Sinopec has turned into profitability in the first quarter, with net profit.
According to Arab Net, the largest refinery in Asia with a loss of 19.15 billion yuan in the first quarter of last year in accordance with international accounting standards, as the Corona virus pandemic has shrunk fuel consumption.
Raw refining volume increased 16.3% compared to a low level last year to 62.52 million tons of 5.07 million barrels per day with China's fuel consumption returns for pre-pandemic levels.
Sales of refined products increased 6.8% on an annual basis.
Sinopec said in a statement to the Shanghai Stock Exchange, the company takes great amendments to refined oil products exports according to market changes and maintains stable and high operating rates for refining facilities.
