【Oil Stock Earnings】Sinopec Earned 33.6% Less Last Year, Final Dividend Falls 20% to 0.112 Yuan, Oil Price Outlook Uncertainty Expected to Increase

SocialAnxietyStaker · 2026-03-22T11:11:55+00:00

China Petroleum & Chemical Corporation announced 2025 earnings results with net profit of 32.48 billion yuan, down 33.6% year-over-year. It plans to distribute a final dividend of 0.112 yuan per share, with full-year dividends declining 30%. The company forecasts that 2026 refined oil demand will be affected by alternative energy sources, with increased uncertainty in international oil prices. Last year's operating revenue was 2.8 trillion yuan, primarily due to declining product prices and sales volumes. The company plans capital expenditure of 131.6 to 148.6 billion yuan for 2026.

SocialAnxietyStaker

2026-03-22 11:11:55

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Sinopec (00386)
Announces 2025 Performance. According to International Financial Reporting Standards, Sinopec’s net profit last year was 32.48 billion yuan (RMB), down 33.6% year-on-year. Sinopec plans to pay a final dividend of 0.112 yuan per share, a 20% decrease year-on-year. The total annual dividend is 0.2 yuan, approximately 30% lower than the previous year.

Looking ahead to 2026, Sinopec states that China’s economy will remain stable and improve gradually. It is expected that domestic demand for natural gas and chemical products will continue to grow, while demand for refined oil remains affected by alternative energy sources. Considering global supply and demand changes, geopolitical factors, and inventory levels, international oil prices are expected to be more uncertain.

Last year, Sinopec’s operating revenue was 2.8 trillion yuan, a 9.5% decrease year-on-year, mainly due to falling prices of petroleum and petrochemical products and reduced sales of refined oil. The external sales revenue from refining and marketing divisions was 1.6 trillion yuan, down 11.7% year-on-year, mainly due to lower volume and prices of gasoline and diesel.

During the period, revenue from exports of crude oil, natural gas, and other upstream products was 157.9 billion yuan, down 10.2% year-on-year, mainly due to lower crude oil prices and export volumes. Revenue from chemical product exports was 378 billion yuan, down 9.6% year-on-year, mainly due to falling product prices.

Expected capital expenditure for 2026 up to 148.6 billion yuan

In terms of capital expenditure, Sinopec continued to optimize investment project management last year, with total capital spending of 147.2 billion yuan. This year, the company plans to spend between 131.6 billion and 148.6 billion yuan.

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