Sinopec's Q3 earnings fall 52.1% on lower oil prices, refining margins
BEIJING, Oct 28 (Reuters) -Chinese refining giant Sinopec posted a 52.1% year-on-year decline in net profit for the third quarter to 8.54 billion yuan ($1.2 billion) because of lower oil prices and weak refining margins.
The world's largest refiner by capacity, Sinopec's third quarter revenue was 790.4 billion yuan, down 9.8% from a year earlier, the company said in a stock market filing on Monday.
Reporting by Colleen Howe; Editing by David Holmes
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