Sinopec says refining margins to maintain normal growth
HONG KONG |
HONG KONG Oct 30 (Reuters) - Top Asian oil refiner Sinopec Corp (0386.HK)(600028.SS) said on Friday its refining margins will "still maintain normal growth."
The company, speaking on a conference call to discuss its third-quarter performance, also said the injection of assets from its parent could be done by the end of the year.
Analysts said Sinopec (SNP.N) could struggle to repeat the surge in its quarterly profit as uncertainty about Beijing's fuel price reforms and higher crude prices weigh on its outlook.
Sinopec, which posted a more than two-fold rise in third-quarter net profit, benefitted from four fuel price increases in China this year, with the most recent in September. (Editing by Don Durfee and Jacqueline Wong)
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