GS 高盛－中石化研究报告

01.18 January 18, 2007 ６页

COMMENT

China Petroleum and Chemical (H) (0386.HK) HK$6.38

2006 operating results mostly in-line; retain Sell

Sinopec's 2006 operating data was mostly in line with our estimates. For 2006, total oil and gas production rose 3.8% yoy to 327.9 mn boe. Retail volume and total domestic sales volume of oil products in 2006 rose 13.6% and 6.8% yoy to 72.2 mn tonnes and 111.7 mn tonnes respectively. Crude throughput rose 4.6% yoy to 2.9 mn bbls/day in 2006.