Sinopec 2020 net profit falls 42% on a weaker demand due pandemic
29.03.2021
MOSCOW (MRC) --В Sinopec posted a 42.4% decline in net profit last year as the coronavirus pandemic hit demand and caused sharp falls in petrochemical prices, said Reuters.China Petroleum & Chemical Corp, better known as Sinopec, plans a 23.8% increase in capital spending to 167.2 billion yuan in 2021 following recovery of oil prices and energy demand as the COVID-19 epidemic subsided.Sin