Companies / China
State Price Curbs Undermine Sinopec Earnings
April 2008 | Company Finance AlertAsia's biggest oil refining company, China Petroleum & Chemical Corporation (Sinopec) has blamed soaring crude prices and government curbs on domestic selling prices for a slowing of 2007 earnings growth. The state-controlled Chinese group's net income rose just 5.4% to CNY56.5bn (US$8.1bn), according to a statement to the Hong Kong stock exchange.
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