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China Petroleum & Chemical Corporation Q1 2009 Results Announcement

China Petroleum & Chemical Corporation Q1 2009 Results Announcement. 29 April 2009. Disclaimer.

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China Petroleum & Chemical Corporation Q1 2009 Results Announcement

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  1. China Petroleum & Chemical CorporationQ1 2009 Results Announcement 29 April 2009

  2. Disclaimer As required by the CSRC, financial statements of the first quarter of Sinopec Corp. (the “Company”) were prepared under PRC Accounting Rules and Regulations. The Company has adjusted part of the financial data in accordance with the International Financial Reporting Standards hereby for the reference of international investors. Financial data of the first quarter contained in the presentation and presentation materials are unaudited. 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 2009 • China’s GDP grew by 6.1% in the first quarter • International crude oil price fluctuated at relatively low level • New oil product pricing mechanism improved refining business environment • Influenced by financial crisis, oil product and chemical demand declined compared with Q1 2008 • Domestic demand for oil and petrochemical products increased month by month thanks to the government’s stimulus plans

  4. Financial Performance EBIT of Each Segment RMB million

  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 Maximum Retail Price Adjustment EBIT of Marketing Segment RMB million

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

  12. Chemicals—Performance EBIT of Chemicals Segment Chemical Price Spread (2002-2009.4) USD/tonne RMB million

  13. Capital Expenditure Total Capex in Q1 2009: RMB 15.28bn • E&P: RMB 7.78 billion. Sichuan-East China Gas Project approached completion • Refining: RMB 1.57 billion. Mainly used in upgrading of refineries • Chemical: RMB4.64 billion. Mainly used for major ethylene projects • Marketing: RMB 0.99 billion. Construction of service stations and pipeline in key areas • Corporate and others: RMB 0.30 billion RMB billion

  14. For Further Information http://www.sinopec.com Investor Inquiries Beijing: Tel: (8610) 59960028 Fax: (8610) 59960386 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)59960028 Fax: (8610) 59960386 Email: media@sinopec.com

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