UPDATE 1-Sinopec's fuel sales rebound, but records biggest quarterly loss in Q1 [Reuters]
China Petroleum & Chemical Corporation (SNP)
US:NYSE Investor Relations:
cnpc.com.cn/en
Company Research
Source: Reuters
UPDATE 1-Sinopec's fuel sales rebound, but records biggest quarterly loss in Q1 * Diesel sales match 2019 level, gasoline sales resume to 90% * Q1 oil throughput down 13% y/y * Crude oil output dips 0.2%, natural gas output falls 2.4% (Recasts, adds sales, updates milestone) By Muyu Xu and Chen Aizhu BEIJING/SINGAPORE, April 29 (Reuters) - China Petroleum & Chemical Corp (Sinopec) said on Thursday its daily sales of refined oil products have resumed to more than 90% of levels seen before the coronavirus outbreak, after it announced the worst quarterly loss on record a day earlier. Diesel sales match the level of a year ago, while sales of gasoline have rebounded to 90% and petrochemical products to 86%, of the levels seen last year. “Fuel and chemical products consumption is expected to further improve with the acceleration of production resumption at companies in China. Supply and demand will be balanced again,” the company said in a statement. On Wednesday, the listed branch of Sino
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