Sinopec Group, the largest shareholder of Sinopec Corp., is a giant petroleum and petrochemical group incorporated by the State in 1998 based on the former China Petrochemical Corporation. Funded by the State, it is a State authorized investment arm and State-owned controlling company.

Saturday, January 29, 2011

Sinopec Group takes one-third share in China's top and midium grade lube oil market



Beijing, January 28th, 2011 - China Petrochemical Corporation, the parent of Sinopec, said Friday its lube oil sales amounted to 1.6 million metric tons in 2010, up 22 percent over the figure of 1.3 million metric tons registered in 2005 and pocketing one-third share of the top- and medium-grade lube oil market in China.

The company's annual lube oil sales revenue has seen a rise of 87 percent during the 11th Five-Year Program (2006-2010), while the profit increased by 12.59-fold during the period.

Sinopec leads the domestic market in packed lube oil sales. During 2006-2010, its annual packed lube oil sales increased by 61 percent, while its top and medium grade lube oil sales was up about 107 percent. - Xinhua News Agency

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