Sinopec 2012 profit falls 12.8pc, in line with forecast

HONG KONG: China Petroleum and Chemical Corp (Sinopec Corp) posted a 12.8 percent fall in its 2012 net profit on Sunday, roughly in line with forecasts, hit by a drop in revenues from its upstream and chemicals businesses.

Asia's largest refiner and China's second largest oil and gas company booked a net profit of 63.88 billion yuan ($10.28 billion) for last year, versus earnings of 73.22 billion yuan in 2011. This compared with a consensus forecast of 62.6 billion yuan from 30 analysts polled by Thomson Reuters.