Sinopec made loss in refining in Oct - paper
Published: 27 Oct 2009 17:18:18 PSTSHANGHAI, Oct 28 - China's Sinopec Corp <0386.HK><600028.SS> made a loss in its refining business for a third straight month in October, the Shanghai Securities News quoted a company source as saying on Wednesday.
But the company was making a profit in other sectors such as oil products sales and chemicals, the source said.
The refining business of the company sank into the red after China's government cut fuel prices in July, the paper quoted analysts as saying.
Crude oil processing volumes have stayed at record high levels in October on hopes of a further recovery in demand on the back of economic growth [ID:nPEK143009].
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