Oil hikes hit FPC and Sinopec profits

Lazell, Mark
May 2006
ICIS Chemical Business;5/8/2006, Vol. 1 Issue 18, p12
Trade Publication
The article reports on the impact of the increase in crude oil prices on the profits of Sinopec and Formosa Plastics Corp. in the first quarter of 2006. Sinopec posted a 3.6% decrease in net profits despite a 30.5% increase in income. There is a possibility that business losses will increase in the second quarter due to the control of the Chinese government on refined products such as gasoline and diesel. Ethylene production increased by 35% during the period. INSET: TAIWANESE OPERATING PROFITS FALL.


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