China's Three Oil Giants Achieved Significant Growth for Q1

Oinopec Corp. (China Petroleum & ChemicalCorporation, SH: 600028, HK: 386,NYSE: SNP, LSE: SNP) achieved turnover ofRMB438.2 billion in the first quarter of2010, a year-on-year increase of 92.62%. Thenet profit was RMB15.785 billion, up 39.93% from the same period of 2009.The growth was driven by the growingdomestic demand for natural gas, oil andchemical products, which was stimulatedby the central government’s policies toboost domestic demand and improvepeople’s livelihood, and further recoveredChinese economy, according to Mr. WangXinhua, Chief Finance Officer of SinopecCorp.