China Petroleum & Chemical Corporation Class H Stock News

China's oil demand is expected to fall ​by 600,000 barrels a day in 2026, ‌or 8.9% from the previous year, marking a third straight annual decline as high oil prices curbed ​consumption and electric vehicle adoption accelerated, according ​to Sinopec's research arm.

ASTANA, Kazakhstan, Sept. 4, 2026 /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") joined the International CCUS Technology Innovation Cooperation Organization , the Ministry of Energy of the Republic of Kazakhstan and the Institute of New Materials and Energy Technologies at Nazarbayev University in launching the Initiative for Cooperation on Low-Carbon Energy Deve...

Chinese offshore oil and gas major CNOOC Ltd posted a record first-half net profit on Wednesday, as higher oil ​prices driven by the Iran war and rising production boosted earnings.

Hou Qijun has set out to transform Sinopec, the world's largest refiner, as it faces dwindling fuel demand, overcapacity in petrochemicals and the world's worst oil ​crisis, when he could be coasting into retirement like other Chinese state executives.

Chinese refiner Sinopec will increase the sourcing of its oil from Brazil, Africa and beyond ​to contend with supply disruptions caused by Middle East conflict, company ‌executives said on Monday after reporting interim results on Sunday.

China's Sinopec reported an unexpected 19.3% year-on-year increase in ​net profit for the first half of 2026, despite a litany of issues including the Middle East conflict and ‌falling demand for fuel domestically, but said it had to write down its inventories by 16 billion yuan.

Sinopec is launching a major internal restructuring, setting up ​new business units and relocating hundreds of staff, as the world's biggest refiner seeks to lift profits ‌amid flagging Chinese oil and petrochemicals demand, company officials said.

China's Sinopec said it had completed the restructuring of China National Aviation Fuel (CNAF), the country's dominant jet fuel distributor, ​according to a company statement on July 10.