Sinopec Third-Quarter Profit Jumps 57% on Higher Oil Prices, Refining Margins
Sinopec reported third-quarter net profit up 57.2% year over year. Improved refining margins and higher crude prices offset weaker fuel demand.
By Sam Li and Chen AizhuChina's Sinopec Corp SSE:600028 reported a 57.2% year-on-year gain in its third-quarter net profits on Thursday as improved refining margins and higher crude oil prices offset weaker fuel demand.The world's biggest refiner by capacity said its net income amounted to 13.36 bi…