Sinopec's 1H Output Wobbles

Sinopec’s total production in the first of 2017 was down by little over 1%, it said in a statement last week. The company produced 221.30mn boe of oil and gas compared with 218.99mn boe in the same period last year.

Total gas production in 1H was 452.12bn ft³, up 16%; while crude oil output was 145.98mn boe, down over 5% year-on-year. Domestic crude oil production was 123.16mn boe, down 4.07% while overseas crude oil output was 22.82mn boe, down 11.52% year-on-year.

China Petroleum & Chemical Corporation, or Sinopec, is one of the three main state owned energy companies in China.

Shardul Sharma