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Sinopec's Profit Falls 16% Amid Peak Oil Demand

3/23/2025

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Summary

Story summary

Sinopec's 2024 profit decreased by 16% to 49 billion yuan, falling short of the 56.4 billion yuan forecast.
China's oil consumption approaches its peak, affecting overall demand.
The refining segment's operating profit plummeted by 67% to 6.71 billion yuan.
Sinopec will issue a final cash dividend of 14 yuan per share, amounting to 28.6 yuan for the year.

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Story summary

Sinopec's 2024 profit decreased by 16% to 49 billion yuan, falling short of the 56.4 billion yuan forecast.
China's oil consumption approaches its peak, affecting overall demand.
The refining segment's operating profit plummeted by 67% to 6.71 billion yuan.
Sinopec will issue a final cash dividend of 14 yuan per share, amounting to 28.6 yuan for the year.