
Sinopec Reports Slump in Full-Year Profit as Headwinds Mount
Sinopec’s full-year profit tumbled 16% amid sluggish demand, with China’s oil consumption likely nearing a peak. The country’s biggest refiner saw net income fall to 49 billion yuan ($6.8 billion) in 2024 from 58.3 billion yuan a year earlier, according to a filing on Sunday, citing international reporting standards. That