China Petroleum & Chemical Corporation operates within the Petroleum refining sector.
In addition to historical fundamental analyses, the complete report available to purchase compares China Petroleum & Chemical with three other
petroleum refiners in Asia:
PetroChina Co Ltd
(2020
sales of 1.92 trillion Chinese Renmimbi [US$297.72 billion]
of which 64%
was Marketing),
ENEOS Holdings Inc
of JAPAN
(10.01 trillion Japanese Yen [US$91.51 billion]
of which 84%
was Energy), and
Reliance Industries Limited
which is
based in INDIA
(5.97 trillion Indian Rupees [US$81.25 billion]
of which 65%
was Refining).
Sales Analysis.
Sales were up sharply during the second
quarter of 2021 versus the previous year's second quarter.
During the second
quarter of 2021, sales at China Petroleum & Chemical totalled
684.62 billion Chinese Renmimbi.
This is
an increase of 63.8%
from the 417.91 billion Chinese Renmimbi in sales at the company during the second quarter of 2020.
This was the biggest same quarter rise in sales at China Petroleum & Chemical in the previous 32 quarters.
During the first two
quarters of 2021, sales totalled 1.16 trillion Chinese Renmimbi, which is
28.6% higher
than through the first two quarters of 2020.
There appears to be at least some degree of seasonality in the sales at China Petroleum & Chemical: during 7 of the previous 8
years, sales were highest during the fourth quarter.
The exception to this was during 2015, when the
second quarter was the best quarter, accounting for
27% of sales (during that same year, the
fourth quarter accounted for 26% of sales).
During the year ended December of 2020, sales at
China Petroleum & Chemical were 1.91 trillion Chinese Renmimbi (US$296.67 billion).
This
is
a
sharp
decrease of 30.9%
versus 2019, when the company's sales were 2.76 trillion Chinese Renmimbi.
The sales level in 2020 was fairly close to the level five years ago: in 2015, China Petroleum & Chemical had sales
of 1.82 trillion Chinese Renmimbi.
Contributing to the drop in overall sales was the 23.4% decline
in Marketing and Distribution, from 1.39 trillion Chinese Renmimbi to 1.07 trillion Chinese Renmimbi.
There were also decreases in sales in
Chemicals (down 14.8% to 362.64 billion Chinese Renmimbi)
.
However, these declines were partially offset by the increase in sales of
Refining (up 563.4% to 939.88 billion Chinese Renmimbi)
and
Exploration and Production (up 45.8% to 162.04 billion Chinese Renmimbi)
and
Corporate and Other (up 7.2% to 888.23 billion Chinese Renmimbi)
.