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English > Industry&Companies > Industry-Breaking News>Sinopec Shanghai Reports Widening Loss

Sinopec Shanghai Reports Widening Loss

12-24 16:40 Caijing Magazine

Full article in Chinese: http://www.caijing.com.cn/2008-12-24/110041941.html

Sinopec Shanghai Petrochemical Co. announced on December 24 that its fourth quarter loss will exceed the third quarter loss due to weakening demand and falling international oil prices. Sinopec Shanghai posted a net loss of 2.31 bln yuan in the third quarter, and a 373 million yuan loss for the first half this year. The company said its loss this year may exceed 5 billion yuan.
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