Others News
- Shanghai Petrochemical profit jumps
Date: 28-Aug-2007 Sources: (Shenzhen Daily)
SINOPEC Shanghai Petrochemical Co., a fuel producer and China's largest ethylene producer by capacity, said yesterday its first-half net profit jumped sharply from the same period last year on lower crude oil costs and higher oil product prices.
Shanghai Petrochemical, which is 55.56 percent-owned by China Petroleum & Chemical Corp. (Sinopec), said net profit for the six months ended June 30 totaled 1.79 billion yuan, up from 5.7 million yuan a year earlier. Revenue rose to 26.82 billion (US$3.55 billion) yuan from 23.44 billion yuan. The company produces gasoline, diesel and jet fuel, as well as chemical products including ethylene and synthetic fibers.
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