Sinopec’s oil product sales rise by 0.85%

China Petroleum and Chemical Corp. (Sinopec), the country’s second largest oil company, boosted its oil products sales volume in 2009 by 0.85% year-on-year to 124.02 million tons, according to statistics the company released on January 21. Sinopec produced 301.15 million barrels of crude oil in 2009, representing a year-on-year increase of 1.47%, according to the statistics. It processed 182.62 million tons of crude oil, up 6.7% year-on-year. The company’s gasoline output climbed by 16.12% year-on-year to 34.43 million tons as booming domestic car sales boosted gasoline demand in the country, according to statistics. Diesel fuel output, on the other hand, dipped 1.26% year-on-year to 68.86 million tons due to slackening demand from the industrial sector, according to statistics. (January 21, 2010)