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Sinopec posts 12 pct fall in Q3 profits, but beats forecasts

2014-10-31 06:06:57| Oil & Gas - Topix.net

Asia's largest oil refiner Sinopec Corp posted on Thursday a 12 percent fall in third-quarter net profit, partly because of lower international crude prices, weaker refining profits and slowing Chinese demand. Net profit at Sinopec fell to 19.3 billion yuan from 22.0 billion yuan a year earlier, Sinopec said in a filing with the Shanghai bourse.

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