Sinopec income in H1 2014 rises 7.5 pct

Sinopec of China reported a net income of RMB32.54 billion for the first half of 2014, showing a rise of 7.5% year on year.

The company‘s turnover for the period, other operating revenues and other income was RMB1,356.17 billion, down 4.2% year-on-year. However, the Company still maintained double digit growth in operating profit of RMB52.27 billion, up 11.8% year-on-year.

The company stated that the construction of shale gas capacity in Fuling in the Sichuan Basin maintained momentum and by the end of June, daily shale gas production hit 3.2 million cubic meters. Natural gas output
was 354.8 billion cubic meters, an increase of 9.46%.

LNG World News Staff, August 25, 2014; Image: Sinopec