Sinopec profits and spending UP

No shortage of $ to pursue energy efficiency objectives. Hopefully some/lots of this 44% increased spending finds it's way to Sinopec/KPO JV's.

China Petroleum & Chemical Corp. said profits during the first quarter of this year are expected to more than double on higher crude prices and stable demand, bolstering plans by the world’s biggest oil refiner to raise spending for the first time in four years.

Net income during the first three months will jump about 150 percent from the same period a year ago, the company known as Sinopec said in a statement Sunday to the Hong Kong stock exchange. That followed an earlier filing that showed it plans to increase spending by 44 percent this year and that profits in 2016 rose the first time in three years on improved refining margins and a one-time gain from pipeline asset sales.

https://finance.yahoo.com/news/sinopec-profit-rises-refining-gets-064509810.html
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