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China Petroleum & Chemical Corporation 1H 200 7 Results Announcement

China Petroleum & Chemical Corporation 1H 200 7 Results Announcement. August 27, 2007 Hong Kong. Disclaimer.

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China Petroleum & Chemical Corporation 1H 200 7 Results Announcement

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  1. China Petroleum & Chemical Corporation1H 2007 Results Announcement August 27, 2007 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 2007 Overview • 1H 2007 Operational Results • 2H 2007 Operational Plan

  4. 1H 2007 Overview

  5. Review of Market Environment • China’s economy maintained steady and rapid growth, GDP increased by 11.5% • Domestic consumption of refined oil products grew by 4.2% • Domestic ethylene-equivalent consumption grew by 8.4% • International crude prices first declined and rose later • Chemical product prices remained high • Domestic refined oil products prices still tightly controlled

  6. Operational Overview *Includes 100% production from YPC-BASF and Shanghai-Secco.

  7. Profit Growth

  8. Financial Position

  9. ROCE and Dividend ROCE Dividend Per Share RMB Yuan Note: ROCE for 1H 2007 is not annualized

  10. 1H 2007 Operational Results

  11. E&P－Operational Summary

  12. E&P－Segment Performance Crude Oil and Natural Gas Realized price EBIT of E&P Segment 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 EBIT of Marketing Segment RON #90 Gasoline Guidance Price RMB/Tonne RMB million #0 Diesel Guidance Price RMB/Tonne

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

  18. Chemicals－Segment Performance Chemicals Price Spread (2002 – Jul. 2007) EBIT of Chemicals Segment RMB million USD/tonne

  19. Environmental Record • Energy consumption per unit of production decreased by 3.95% • Energy consumption per unit of production for E&P segment decreased by 4.72% • Energy consumption per unit of production for Refining segment increased by 0.28% • Energy consumption of ethylene units decreased by 1.02% • Fresh water consumption and water discharge reduced substantially • Fresh water consumption reduced by 5% • Wastewater discharge reduced by 7% • COD in wastewater reduced by 15%

  20. Effective Cost Control 1H 2007 Cost Saving RMB million

  21. Capital Expenditure 1H 2007 Capex • E&P: RMB 18.28 billion. Newly added production capacity of crude oil was 2.27 million tonnes per year and that of natural gas was 719 million cubic meters per year, • Refining: RMB 6.18 billion. Upgrade of Yanshan project was completed; Qingdao project progressed smoothly; Tianjin-Yanshan crude oil pipeline was completed. • Marketing and Distribution: RMB 4.92 billion. Construction of pipeline for refined oil products in Beijing was completed; newly added 307 stations. • Chemicals: RMB 3.30 billion. Tianjin ethylene, Zhenhai ethylene and Fujian Ethylene projects progressed smoothly RMB million

  22. 2H 2007 Operational Plan

  23. Market Environment for 2H2007 • China’s economy is expected to maintain rapid growth • Demand for oil products and petrochemicals will increase steadily • International crude oil prices will remain high • Refining business will still be under pressure • Petrochemical product prices will remain at a relative high level

  24. 2H 2007 Operation Estimates

  25. For Further Information http://www.sinopec.com Investor Relations Beijing: Tel: (8610) 64990060 Fax: (8610) 64990489 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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