SINOPEC CORP (00386) released its interim results, with a net profit attributable to shareholders of 25.627 billion yuan, an increase of 19.3% year-on-year.

SINOPEC CORP (00386) released its interim results for the six months ending June 30, 2026. The group achieved an operating revenue of RMB 1,436,561 million, an increase of 2% year-on-year; net profit attributable to shareholders of the parent company was RMB 25,627 million, up 19.3% year-on-year; and the basic earnings per share were RMB 0.212. In the first half of 2026, the company seized the opportunity of high oil prices to intensify efficient exploration and productive development, increasing reserves and production, with domestic oil and gas equivalent production reaching a historical high for the same period. In terms of exploration, the company actively acquired quality mining rights and increased its natural gas exploration efforts, achieving significant breakthroughs in shale oil in the Bohai Bay Basin, tight gas in the Sichuan Basin, and offshore natural gas exploration. The shale gas in Ziyang and coalbed methane in Yubei were efficiently delineated. In development, the company accelerated the construction of crude oil production capacity in Jiyang and the Tarim Basin, as well as natural gas production capacity in offshore and western Sichuan marine areas. It optimized the structure of the natural gas resource pool in response to changing circumstances and accelerated the precise development of high-end, high-value-added markets. Profitability across the entire natural gas industry chain reached its best level for the same period in history. In the first half of the year, total oil and gas equivalent production was 263.47 million barrels, a year-on-year increase of 0.3%, of which domestic crude oil production was 127.68 million barrels, a growth of 0.7%, and natural gas production was 741.57 billion cubic feet, also up 0.7%. In the first half of 2026, the company actively responded to the challenges posed by geopolitical conflicts in the Middle East and extreme fluctuations in international oil prices. It adhered to a comprehensive approach to trade, storage and transportation, and production, ensuring stable operations across the industry chain. The company advanced diversified procurement, timely optimizing and adjusting resource allocation; calculated marginal benefits in response to fluctuations in crude oil resource prices, optimizing facility loads, and flexibly adjusting product structures; continuously promoted the transformation of oil and the development of special products, increasing the output of high-end carbon materials; and coordinated domestic and international markets, ensuring smooth refined oil exports and enhancing the effectiveness of the industry chain. In the first half of the year, the company processed 113 million tons of crude oil and produced 69.16 million tons of refined oil products.