Sinopec Announces Interim Results for First Half of 2025

China Petroleum & Chemical Corporation (Sinopec) reported a net profit of RMB 23.75 billion for the first half of 2025, despite challenges in the global oil market. The company's revenue reached RMB 1.41 trillion, with a key focus on exploration and production, refining, marketing, and chemicals.

The company produced approximately 263 million barrels of oil equivalent, with natural gas production up 5.1% year-on-year. Despite a 12.2% decrease in refining segment revenues due to declining oil prices, Sinopec emphasized optimization strategies to cushion impacts.

Sinopec's refining segment reported an 11.5% increase in light chemical feedstock production, while marketing and distribution saw a notable expansion in EV charging and gas refueling networks. Challenges included a significant decrease in revenue from refined oil products and lower chemical product margins.

Looking forward, Sinopec plans to enhance reserve building, production efficiency, and leverage new technologies for high-quality development amid a recovering Chinese economy.