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    Economy

    Oil giants' performance worsens

    1
    2015-08-27 09:49Global Times/Agencies Editor: Li Yan

    Energy giant China Petroleum & Chemical Corp, known as Sinopec, recorded a year-on-year decrease of 23.3 percent in first-half operating income to 1.04 trillion yuan ($162 billion), while operating profit shrank about 22 percent to 40.5 billion yuan, the company's filing on Wednesday night showed.

    Total turnover declined about 23.6 percent to 1.02 trillion yuan, according to the filing.

    Separately, the first-half net profit of the nation's major offshore oil producer China National Offshore Oil Corp plunged about 56 percent to 14.73 billion yuan, the company's filing showed on Wednesday.

      

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