Chinese oil and gas giant Sinopec reports 2.6% revenue and profit increase for H1 2024, plans 65%+ dividend distribution and green campaign.

Sinopec Corp., a Chinese oil and gas company, has reported a 2.6% increase in operating revenue and profit attributable to shareholders for the first half of 2024, reaching RMB 1.58 trillion and RMB 37.079 billion respectively. The company plans to distribute cash dividends of not less than 65% of its annual profit over the next three years as part of its "Action of Corporate Value and Return Plan." Sinopec is also implementing a green enterprise campaign with targets to reduce emissions, increase efficiency, and promote sustainable development. The company's oil and gas output increased by 3.1% year-on-year to approximately 258 million barrels of oil equivalent.

August 25, 2024
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