Sinopec sees oil processing volume rise to 180 mln tons in 2009

 China Petrochemical Corp, also known as Sinopec Group, said yesterday that its listed subsidiary Sinopec Corp processed 180 million tons of crude oil in 2009, 4% more than in the previous year.

Sinopec Group said in a statement that 89.31 million tons of crude oil or nearly 50% of the crude oil processed last year was transported through pipelines, 6 million tons or 7.2% more than in 2008.

Sinopec, the largest oil refiner in Asia, has 37 oil pipes in 13 provinces, autonomous regions and municipalities. The pipes have a total length of 6,064 km and a storage capacity of 24.55 million cubic meters.

Reportedly, Tahe oil field, Sinopec's second largest oilfield by output, last year produced 6.6 million tons of crude oil and 1.35 billion cubic meters of natural gas, up 10% and 12.5% year on year, respectively.

Sinopec's net profit soared 230.3% year on year to RMB 49.71 billion in the first three quarters of last year, China Knowledge reported earlier.