Sinopec Reports Stable First-Half Performance in 2026 Amid Market Challenges

China Petroleum & Chemical Corporation (Sinopec) released its interim results for the first half of 2026, showcasing notable resilience amidst numerous challenges. The company reported a total revenue of RMB 1.44 trillion, marking a 2.0% increase year-on-year. The profit attributable to shareholders reached RMB 26.567 billion, a growth of 11.9% compared to the previous year. Meanwhile, the net cash flow from operating activities rose slightly by 2.4%, amounting to RMB 62.499 billion.

Sinopec's exploration and production segment benefitted from high international crude oil prices, leading to a 6.9% rise in operating revenues. Despite fluctuating oil prices and geopolitical tensions, the refining segment recorded an impressive 381.5% surge in operating profit. However, the marketing and distribution and chemical segments faced declines, with operating profits falling by 28.6% and a slight operating loss.

As Sinopec navigates these unstable economic and geopolitical landscapes, the company remains committed to intensifying exploration and focusing on innovative high-end materials development. It aims for continued growth while addressing environmental and technological advancements in an evolving global market.