On March 27, China Petroleum & Chemical Corporation(600028) released the annual performance report of 2021. In 2021, in accordance with international financial reporting standards, the company achieved a turnover and other operating income of 2.74 trillion yuan, a year-on-year increase of 30.2%, and the profit attributable to shareholders of the company was 71.975 billion yuan, a year-on-year increase of 115.2%. According to China’s accounting standards for business enterprises, the net profit attributable to the shareholders of the parent company was 71.208 billion yuan, a year-on-year increase of 114%, and the operating performance reached the best level in the same period of nearly 10 years.
In terms of various businesses, in terms of exploration and development, Sinopec made a number of new oil and gas discoveries in 2021, including major breakthroughs in continental shale oil exploration in Bohai Bay, Northern Jiangsu and Sichuan. Throughout the year, the domestic crude oil output was 351549 million tons, the overseas crude oil output was 4.1773 million tons, and the natural gas output was 33.968 billion cubic meters, an increase of 11.9% year-on-year.
In terms of oil refining, 255 million tons of crude oil were processed throughout the year, with a year-on-year increase of 7.8%, 146 million tons of refined oil were produced, with a year-on-year increase of 3.3%, including 65.21 million tons of gasoline, with a year-on-year increase of 12.6%, and 45.41 million tons of chemical light oil, with a year-on-year increase of 12.9%.
In terms of marketing and distribution, the total annual sales volume of refined oil was 221 million tons, of which the total domestic sales volume of refined oil was 171 million tons, a year-on-year increase of 2.0%.
In terms of chemical industry, adhere to “basic + high-end”, continue to promote the diversification of raw materials, strengthen the research and development of high-end products and new materials, and increase the output of metallocene polyolefins, carbon fiber and other high value-added products. The annual ethylene output was 13.38 million tons, a year-on-year increase of 10.9%. The total volume of chemical products in the whole year was 81.6 million tons, realizing full production and sales.
Ma Yongsheng, chairman of China Petroleum & Chemical Corporation(600028) said that in 2022, China Petroleum & Chemical Corporation(600028) will adhere to the general tone of seeking progress while maintaining stability, based on the new development stage, fully and accurately implement the new development concept, do a good job in corporate governance, production and operation, transformation and development, scientific and technological innovation, reform and management, unswervingly move forward to the world leading goal, create greater value for shareholders and society and refuel for a better life.
