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On April 28, Sinopec Corporation released its report for the first quarter of 2026, showing that in accordance with international financial reporting standards, the profit attributable to Sinopec’s shareholders for that quarter was RMB 17.739 billion, representing a year-on-year increase of 26.9%. In terms of exploration, significant breakthroughs have been achieved in the exploration of tight gas in northern Sichuan and coalbed methane in southern Hubei. In terms of development, efforts are being made to advance the construction of key oil and gas production facilities in areas such as Tahe, Zhunxi, and offshore regions; the development of shale oil is being intensified, and efforts are being made to further optimize production in existing fields. At the same time, enhance the integrated coordination of natural gas production, supply, storage, and sales to boost efficiency and improve the profitability of the natural gas business. In the first quarter, oil and gas production amounted to 131.49 million barrel equivalents, a 0.4% increase year-on-year. Of this, domestic crude oil production was 63.41 million barrels, representing a 1% increase year-on-year, while natural gas production was 10.48 billion cubic meters, with a 0.4% increase year-on-year. In the field of oil refining, it is necessary to ensure integrated operation of production and sales, maintain coordinated management of trading, storage, transportation, and production, optimize the structure and timing of resource procurement, and guarantee a stable supply of resources. By taking into account market demands and profitability, the processing load is optimized and the product structure is adjusted to increase production of high-end carbon materials, lubricants, and other products, thereby enhancing the profitability of refinery by-products. In the first quarter, 62.02 million tons of crude oil were processed, and 38.06 million tons of refined oil were produced, representing a 2.3% increase on a year-on-year basis. In terms of marketing and distribution, we make full use of our integration advantages and network strengths to optimize business strategies and vigorously expand market presence. Sales of high-octane gasoline continue to grow, and our share of the domestic refined oil market further increases. Accelerate the development of hydrogen refueling and charging networks, and actively promote the growth of hydrogen-based transportation; sales of LNG for vehicles, as well as charging and hydrogen refueling volumes, have seen significant year-on-year increases. Accelerate the development of the \"vehicle ecosystem\" and \"home lifestyle\" to improve the quality of EasyPass services. In the first quarter, domestic sales of refined oil products amounted to 43.42 million tons, a 0.6% increase on a year-on-year basis. In the chemical industry, the structure of raw materials is continuously optimized to reduce raw material costs. Dynamically adjust device load and product structure to promote efficient allocation of resources. Deepen collaborative efforts in production, sales, research, and application to boost efficiency, and accelerate the development of new chemical materials such as POE (polyolefin elastomer). Deepen partnerships with strategic clients and make vigorous efforts to expand into overseas markets. In the first quarter, ethylene production amounted to 3.553 million tons, while the sales volume of chemical products was 20.06 million tons. In terms of capital expenditure, RMB 25.168 billion was spent in the first quarter, primarily on expanding crude oil production capacity in areas such as Jiyang and Tahe, as well as natural gas production capacity in regions like western and southern Sichuan. Funds were also used for the construction of oil and gas storage and transportation facilities, technical upgrades at Guangzhou Petrochemical, transformation and upgrading of refining operations at Maoming Petrochemical, the development of a network of comprehensive fueling stations, and the construction of aromatic compounds production facilities at Jiujiang Petrochemical and ethylene production facilities at Maoming Petrochemical.