Sinopec Group’s 2009 Crude Oil Processing Climbs 6.4% (Update1)

http://www.fxfxfx.com 2010-01-31 14:18:09

China Petrochemical Corp., Asia’s largest oil refiner, processed 6.4 percent more crude oil in 2009 than a year earlier, figures released today by Vice President Li Chunguang indicated.

Last year’s volume was 184 million metric tons, Li said at a company event in Beijing. The refiner, also called Sinopec Group, previously said 2008 processing rose 4 percent to 173 million tons.

Sinopec Group produced 55.21 million tons of crude oil last year, and natural gas output was 8.47 billion cubic meters, Li said. Ethylene output was 6.71 million tons and oil product sales volume totaled 120 million tons, Li said.

Chinese manufacturing expanded the most in five years last month, signaling that the world’s third-biggest economy will sustain its demand for energy and raw materials. Sinopec Group may have boosted its 2009 crude oil imports by 8 percent to 138 million tons, the company said on Dec. 17.

Sinopec Group is the parent company of Hong Kong-listed China Petroleum & Chemical Corp.

[Print] [Close]

Related Articles

• Gold Hedging Shrinks Most in Almost Two Years,
• Lafarge Reports Net Loss; Sees Cement Market G
• Europe Stocks Rise for Second Week; Barclays,
• Lehman Bankruptcy Advisers Paid $641.9 Million
• Olympic Television Ratings Remain Above Turin
• European Stocks Advance as Air Liquide, Rio Ti
• Foster’s Posts Lowest First-Half Profit in 4
• Olympic Games Draw 97 Million U.S. Viewers for
• U.K. Stocks Advance; British Airways, Rio Tint
• TUI Rises on Positive Outlook for Tourism, Con