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China Petroleum & Chemical Corporation Q1 2008 Results Announcement

China Petroleum & Chemical Corporation Q1 2008 Results Announcement. 28 April 2008. Disclaimer.

kimberley-curry
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China Petroleum & Chemical Corporation Q1 2008 Results Announcement

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  1. China Petroleum & Chemical CorporationQ1 2008 Results Announcement 28 April 2008

  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, 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. Market Environment in Q1 2008 • China’s economy maintained rapid growth • Domestic consumption of refined oil products and chemicals increased steadily • International crude oil prices kept increasing • Domestic refined oil product prices still tightly controlled • Chemical product prices remained high

  4. Financial Data

  5. Financial Position

  6. E&P—Operational Summary & Performance Note: 1 tonne=7.1 barrels, 1 cubic meter=35.31 cubic feet

  7. Refining—Operational Summary

  8. Refining—Performance Refining Margin / Cash Operating Cost EBIT of Refining Segment Refining margin RMB/tonne Cash operating cost RMB/tonne RMB million

  9. Marketing—Operational Summary

  10. Marketing—Performance RON #90 Gasoline Retail Guidance Price EBIT of Marketing Segment RMB/tonne RMB million #0 Diesel Retail Guidance Price RMB/tonne

  11. Chemicals—Operational Summary Note: Includes 100% production from BASF-YPC and Shanghai-Secco

  12. Chemicals—Performance EBIT of Chemicals Segment Chemicals Price Spread (2002-Mar. 2008) RMB million USD/tonne

  13. Capital Expenditure Total Capex in Q1 2008: RMB 15.034 bn • E&P: RMB7.698 billion. Sichuan-East China Gas Project progressed smoothly • Refining: RMB 1.773 billion. Qingdao 10 million tpa refinery project, Wuhan and other oil products quality upgrading projects progressed smoothly • Chemicals: RMB 2.097billion. Mainly used for Tianjin 1 million tpa ethylene project, Zhenhai 1 million tpa ethylene project and Jinling 0.6 million tpa PX project • Marketing: RMB 3.092 billion. Remarkable progress in building and purchasing service stations in key regions; added 100 new stations • Corporate and others: RMB 0.374 billion RMB billion

  14. For Further Information http://www.sinopec.com Investor Inquiries 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 Inquires Tel: (8610) 64990092 Fax: (8610) 64990093 Email: media@sinopec.com

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