Sinopec Reports Solid First Half Results Amid Higher Oil Prices
Sinopec, China's largest refiner and chemical producer, reported solid operating results in the first half of 2026. The company's total revenue reached RMB 1.44 trillion, up by 2.0% year-on-year, while its profit attributable to shareholders increased by 11.9%. Net cash flow from operating activities also rose by 2.4% year-on-year.
The company attributed the growth in revenue and profits to higher international crude oil prices, which averaged USD92.6 per barrel for Platts Brent. Sinopec's refining segment saw a significant increase in operating profit, up by 381.5% year-on-year, due to enhanced integrated synergy and profitability.
The company also announced a new round of share repurchases to safeguard corporate value and shareholders' interests. Additionally, Sinopec distributed an interim cash dividend of RMB 0.105 per share, in accordance with the upper limit of the interim dividend payout ratio stipulated in its Articles of Association.