China Business News: Sinopec Group suffered RMB 114.4-bln refining loss last year

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Sinopec Group suffered RMB 114.4-bln refining loss last year

Jun. 25, 2009 (China Knowledge) - China Petrochemical Corp (Sinopec Group), the parent of Sinopec<600028><0386><SNP>, on Jun. 23 posted RMB 114.4 billion in losses in the oil refining business for 2008 resulting from the high price of crude oil, sources reported.According to the statistics released by the oil giant, the group's processed crude oil amounted to 173 million tons las

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