China Petroleum & Chemical Corp Class A

600028: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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PetroChina's and Sinopec's Weak Downstream Performance Offset by Robust Upstream Segments

Chokwai Lee

Jan 27, 2025

Sinopec’s 2024 oil and gas output rose 2.2% year on year, mainly attributable to 4.7% growth in natural gas output. Refining throughput was down 2.0% with lower diesel production partly mitigated by higher kerosene output. The firm’s domestic sales volume of refined oil products also declined 2.8%.

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China Petroleum & Chemical Corp Class A

PetroChina's and Sinopec's Weak Downstream Performance Offset by Robust Upstream Segments

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