Sinopec said its first quarter net profits fell to RMB 102 million (US$12.32 million) from RMB 3.27 billion (US$395 million) from year-ago levels as a result of lower domestic prices for crude, oil products and chemical products. The company also blamed the weaker performance on “the cost of sales, sales taxes and surcharges.” Its revenue…

This article is for Subscriber members only.
Log In Register