Sinopec leads peers in terms of profitability

China Petroleum and Chemical Corp or Sinopec, one of the world's largest refiners, continued to lead its peers in net profits for three consecutive years, thanks to its refining and downstream integration advantages.

Net profit of Sinopec reached 63.09 billion yuan ($9.4 billion) for 2018, a year-on-year increase of 23.4 percent, the company said in a statement to the Shanghai Stock Exchange.

It was followed by China National Offshore Oil Corp, the nation's largest producer of offshore oil and gas, with 52.7 billion yuan, up 113.5 percent, compared with the same period of the previous year, and China National Petroleum Corp, the country's largest oil and gas producer and supplier, with a net profit of 52.59 billion yuan, up 130.7 percent year-on-year.