China’s Sinopec’s interim profit down 20.1% on lower oil prices

The logo of China Petroleum & Chemical Corporation, or Sinopec, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren Acquire Licensing Rights Companies China Petroleum & Chemical Corp Follow Aug 27 (Reuters) – Chinese refining giant Sinopec Corp reported on Sunday a 20.1% fall in interim net profit for the first half of the year compared with the year-ago period, to 35.11 billion yuan ($4.82 billion), on lower crude prices despite higher refinery output and growth in fuel sales. Sinopec, the world’s largest refiner by capacity, reported revenues of 1.59…