Following the Chinese Accounting Standards for
Sinopec has hit record highs in terms of oil and gas equivalent production, crude oil processing volume, and total distribution volume of domestic refined oil products:
- Produced 70.92 million tons of oil and gas equivalent, up 3.1 percent year-on-year;
- Produced 37.9 billion cubic meters of natural gas, up 7.1 percent year-on-year;
- Processed 258 million tons of crude oil, up 6.3 percent year-on-year;
- Distributed 188 million tons of refined products in
China , up 15.8 percent year-on-year; - Produced 14.314 million tons of ethylene, up 6.5 percent year-on-year.
Sinopec is taking the lead with an integrated strategy emphasizing operation optimization, network advantages, and continued investment into technology R&D.
Sinopec continues to strengthen its exploration and achieved major breakthroughs in
The group is elevating the transformation with innovation as the key driver, increasing investment in R&D to tackle core technologies and deepen research. In 2023, Sinopec applied for 9,601 domestic and foreign patents and received 5,483 authorizations.
"Looking ahead, Sinopec will focus more on creating greater values, cultivating new quality productive forces, promoting transformation, and expanding the scope of profit to achieve sustainable development, leveraging the group's advantages of full industry chain, market, brand, technology, and talent," said
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SOURCE SINOPEC
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