By Sarfaraz A. Khan
Sinopec’s profits jumped 22% in 2018 as it likely benefited from the 6% increase in the consumption of oil products in China, though its E&P earnings remained in the red.
In 2019, Sinopec’s E&P business will continue to struggle due to weakness in oil prices, though the impact will be partly offset by strong natural gas demand.
Slowdown in economic growth will negatively impact oil products demand, which may hurt Sinopec’s core refining business - and we’ve already seen some warning signs. Read full article at Seeking Alpha.
Sinopec Quotes by TradingView