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China Petroleum & Chemical Corporation Q1 2005 Results Announcement

China Petroleum & Chemical Corporation Q1 2005 Results Announcement. April 29, 2005. Market Environment in Q1. Chinese economy maintained fast growth Domestic demand of oil and chemical products sustained growth momentum Crude oil prices were volatile

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China Petroleum & Chemical Corporation Q1 2005 Results Announcement

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  1. China Petroleum & Chemical CorporationQ1 2005 Results Announcement April 29, 2005

  2. Market Environment in Q1 • Chinese economy maintained fast growth • Domestic demand of oil and chemical products sustained growth momentum • Crude oil prices were volatile • Prices of chemical products remained at high levels

  3. Results of Operation-Significant Earnings Growth 1Q05 1Q04 Change %

  4. Sound Financial Position At 31 March 2005 At 31 December 2004 1Q05

  5. E & P 1Q05 1Q04 Change % Note: 1 tonne = 7.1 barrel ，1 cubic meter = 35.31 cubic feet

  6. Refining - Adjusted Product Mix, Increased Throughput 1Q05 1Q04 Change %

  7. Refining Earnings Refining Margin/ Cash Operating Cost Refining Segment EBIT (RMB million) (USD/bbl) (USD/bbl)

  8. Marketing –Increased Volume, Optimized Structure 1Q05 1Q04 Change %

  9. Marketing Earnings Domestic RON 90# Gasoline Guidance Price Marketing Segment EBIT (RMB million) (RMB/Tonne) Domestic 0# Diesel Guidance Price (RMB/Tonne)

  10. Chemicals – Increased Volume 1Q05 1Q04 Change %

  11. Chemicals Earnings Chemicals Segment EBIT Chemicals Price Spread (1990 through Mar 2005) (RMB MM) USD/tonne

  12. Capital Expenditure • E & P – Newly added crude production capacity of 600 thousand tonnes/year and newly added gas production capacity of 90 million cubic meters/year • Refining – the 2nd phase of Ningbo-Shanghai-Nanjing crude pipeline is close to completion; crude pipeline along the Yangzi River is under construction; some revamping projects were on schedule • Chemicals –major chemical revamping projects, incl. Maoming ethylene progressed smoothly • Marketing – oil product pipeline in southwestern China is close to completion and upgrading of retail network progressed smoothly • Corporate and Others –IT projects including ERP progressed smoothly • In addition, Capex for JV projects, incl. Shanghai-Secco and BASF-YPC was RMB 1.292 billion. RMB million Total：RMB11.359 billion

  13. For Further Information http://www.sinopec.com.cn Investor Relations Beijing: Tel: (8610) 64990060 Fax: (8610) 64990489 Email: ir@sinopec.com.cn Hong Kong: Tel: (852) 28242638 Fax: (852) 28243669 Email: ir@sinopechk.com New York: Tel: (212) 759 5085 Fax: (212) 759 6882 Email: fangzq@sinopecusa.com Media Relations Tel: (8610) 64990092 Fax: (8610) 64990093 Email: media@sinopec.com.cn

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