Прибуток Sinopec знизився на 36.8%, що було вплинуто ослабленою маржею прибутку та енергетичним переходом

Investing.com — China Petroleum & Chemical Corporation (HK:0386), also known as Sinopec, announced on Sunday that net profit will decrease by 36.8% in 2025 due to weak refining margins and increasing substitution by new energy sources.

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The company stated in its announcement on the Shanghai Stock Exchange that net profit attributable to shareholders was 31.8 billion yuan (4.62 billion USD).

In terms of operations, refining volume decreased by 0.8% to 250.3 million tonnes, and gasoline and diesel production declined amid weak demand. Gasoline output fell by 2.4%, diesel by 9.1%, but kerosene production increased by 7.3% year-on-year.

Sales trends reflect the sluggish production. Gasoline sales dropped by 2.5%, diesel by 9.1%, and the average prices of major fuel products also declined. Meanwhile, kerosene sales saw a slight increase.

Despite broader pressures, refining margins slightly improved, supported by strong performance of by-products such as sulfur and petroleum coke, helping offset the rising costs of crude oil imports and freight.

In upstream operations, Sinopec reported domestic crude oil production increased by 0.7% to 255.75 million barrels, and natural gas production grew by 4% to 1,456.6 billion cubic feet. The company expects oil production to remain largely stable in 2026, with continued modest growth in natural gas.

In the chemical sector, external sales revenue decreased by 9.6% year-on-year to 378 billion yuan, mainly due to falling product prices.

Sinopec plans to invest between 131.6 billion yuan and 148.6 billion yuan in capital expenditures in 2026, focusing on upstream projects including expanding crude oil capacity, developing natural gas, and infrastructure for storage and transportation.

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