DJ Sinopec Announces 2023 Interim Results EQS Newswire / 27/08/2023 / 20:17 UTC+8 Press release (For immediate release) Sinopec Achieves Solid Operating Results in the First Half of
EQS Newswire / 27/08/2023 / 20:17 UTC+8 Press release Sinopec Achieves Solid Operating Results in the First Half of 2023 Maintain Relatively High Dividend Payout Level Board Approves Share Repurchase Plan China Petroleum & Chemical Corporation today announced its interim results for the six months ended 30 June 2023. Financial Highlights -- In accordance with IFRS, the Company's turnover and other operating revenues in the first half of 2023 were RMB1.59 trillion.
In the first half of 2023, the Company actively addressed the challenges brought by the decline of crude oil prices and narrowed profit margin of certain refined oil products, adhered to the integration and optimization of production and marketing, increased utilization rate and maximized the efficiency of the business chain. We dynamically enhanced resources allocation and lowered procurement cost.
In the first half of 2023, operating revenues of the segment was RMB729.6 billion, representing a decrease of 5.9% year-on-year. This was mainly due to the decreased price of refined oil products, chemical feedstock and other refined petroleum products year-on-year resulting from sharp decrease of international crude oil price. In the first half of 2023, the unit refining cash operating cost was RMB204.5 per tonne, representing a decrease of 8.
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