Sinopec earnings to soar

Asia’s largest oil refiner Sinopec said its profit will surge over 50 percent in the first half of this year.

“The company estimates the first-half profit will rise more than 50 percent from a year earlier under the current operating situation,” Sinopec said in a statement yesterday.

The company’s profit in the first quarter was 19.44 billion yuan under international accounting standards, up 103.67 percent from last year. First-quarter sales rose 23.08 percent to 279.64 billion yuan, the quarterly report said.

PeoplesDaily