China Petroleum & Chemical Corporation, or Sinopec, has reported an operating income of CNY734.78 billion for the first half ended 30 June, 2008 under China's accounting standards for business enterprises, a 30.3% increase compared to the same period of 2007.

Net profit attributable to the equity shareholders of the parent company decreased 73.4% year on year to CNY9.34 billion in the first half of 2008, compared to CNY35.11 billion for the same period of 2007.

Under International Financial Reporting Standards (IFRS), the company’s turnover with other operating revenues and income increased by 36.2% year on year to CNY768.18 billion in the first half of 2008. For the first half of 2008, profit attributable to shareholders of Sinopec decreased 77.3% year on year to CNY8.25 billion.