Daily loss of upstream business of CNPC and Sinopec exceeded 400 million yuan in the first two months

The loss of upstream business of CNPC reached nearly 17 billion yuan in the first two months of this year. Given the international oil prices continued to slump, it would be a hard year for the development of CNPC. In addition to the upstream business of oil exploration and production, profit of oil refining business exceeded 6 billion and loss of downstream sale business reached several million yuan.

Though the upstream scale of Sinopec was smaller than CNPC, loss of Sinopec was forested nearly several ten billion yuan. This meant the daily loss of upstream business of CNPC and Sinopec reached 450 million yuan in the first two months.

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