What was Sinopec's first-quarter net income, and how does it compare to the same period last year?

Sinopec's net income rose to 17.7 billion yuan ($2.6 billion) in the first quarter, up from nearly 14 billion yuan a year earlier.

How did Sinopec's core refining business perform in the first quarter compared to last year, and what was the performance of its upstream and chemicals businesses?

Sinopec's core refining business profit surged to 18.8 billion yuan in the first quarter, compared with 2.4 billion yuan a year earlier; upstream profits fell slightly to 12.4 billion yuan from 12.9 billion yuan last year; and losses in chemicals widened to 1.3 billion yuan from 1.2 billion yuan in the same period last year.

Sinopec’s First-Quarter Profit Rises Amid Higher Oil Prices

Apr 28, 2026

Sinopec's Q1 net income rose to $2.6 billion amidst rising crude prices linked to Middle East conflicts. Refining profits surged significantly, though chemical segment losses widened due to structural oversupply.

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