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China Petroleum & Chemical Corporation 1H 2008 Results Announcement

China Petroleum & Chemical Corporation 1H 2008 Results Announcement. August 26, 2008 Hong Kong. Disclaimer.

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China Petroleum & Chemical Corporation 1H 2008 Results Announcement

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  1. China Petroleum & Chemical Corporation1H2008 Results Announcement August 26, 2008 Hong Kong

  2. Disclaimer This presentation and the presentation materials distributed herein include forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that Sinopec Corp. expects or anticipates will or may occur in the future (including but not limited to projections, targets, estimates and business plans) are forward-looking statements. Sinopec Corp.'s actual results or developments may differ materially from those indicated by these forward-looking statements as a result of various factors and uncertainties, including but not limited to price fluctuations, actual demand, exchange rate fluctuations, exploration and development outcomes, estimates of proven reserves, market shares, competition, environmental risks, changes in legal, financial and regulatory frameworks, international economic and financial market conditions, political risks, project delay, project approval, cost estimates and other risks and factors beyond our control. In addition, Sinopec Corp. makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements.

  3. Agenda • 1H 2008 Business Overview • 1H 2008 Operational Results • 2H 2008 Operational Plan

  4. 1H 2008 Business Overview

  5. Review of Market Environment • China’s economy maintained steady and rapid growth, GDP increased by 10.4% • Domestic consumption of refined oil products grew by 13.9% • Domestic ethylene-equivalent consumption grew by 2.5% • International crude oil prices surged • Domestic refined oil product prices remained tightly controlled • Chemical product prices kept rising, driven by the surge of feedstock price

  6. Profitability

  7. Financial Position

  8. Capital Expenditure • E&P: RMB 20.981 billion. Newly added production capacity of crude oil was 2.79 million tonnes per year and that of natural gas was 480 million cubic meters per year • Refining: RMB 3.849 billion. Qingdao project and upgrades of Gaoqiao, Wuhan and Luoyang completed. A new crude terminal has achieved mechanical completion at Caofeidian port in Bohai Bay • Marketing and Distribution: RMB 4.548 billion. Improved marketing network; newly built 195 service stations • Chemicals: RMB 5.907billion. YPC 100 ktpa butadiene commenced production; Tianjin, Zhenhai ethylene projects and Jinling PX project progressed on schedule • Corporate and others: RMB 1.251 billion RMB Million

  9. Return and Dividend ROCE Dividend Per Share RMB Yuan Note: ROCE for 1H 2008 is not annualized

  10. 1H 2008 Operational Results

  11. E&P－Operational Summary

  12. E&P Segment Performance EBIT of E&P Segment Crude Oil and Natural Gas Realized prices Crude Oil RMB/tonne Natural Gas RMB/’000 cubic meter RMB million

  13. Refining－Operational Summary

  14. Refining Segment Performance Refining Margin / Cash Operating Cost EBIT of Refining Segment Refining Margin (RMB/tonne) Cash Operating Cost (RMB/tonne) RMB million

  15. Marketing－Operational Summary

  16. Marketing Segment Performance RON #90 Gasoline Guidance Price EBIT of Marketing Segment RMB/Tonne RMB million #0 Diesel Guidance Price RMB/Tonne

  17. Chemicals－Operational Summary * 100% production from YPC-BASF and Shanghai-Secco included.

  18. Chemicals Segment Performance Chemicals Price Spread (2002 – Jul. 2008) EBIT of Chemicals Segment RMB million USD/tonne

  19. 2H 2008 Operational Plan

  20. Market Environment for 2H 2008 • China’s economy is expected to maintain growth momentum • Demand for oil products and petrochemicals will increase steadily • International crude oil prices will remain high • Domestic refining business will still be under pressure • Demand growth for chemical products may slow down

  21. 2H 2008 Operational Plan

  22. For Further Information http://www.sinopec.com Investor Relations Beijing: Tel: (8610) 64990060 Fax: (8610) 64990022 Email: ir@sinopec.com Hong Kong: Tel: (852) 28242638Fax: (852) 28243669 Email: ir@sinopechk.com New York: Tel: (212) 759 5085 Fax: (212) 759 6882 Email: fangzq@sinopecusa.com Media Relations Tel: (8610) 64990092 Fax: (8610) 64990093 Email: media@sinopec.com

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