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Sinopec incurs $244 million loss on Q1 LNG imports


© Reuters. FILE PHOTO: The company logo of China’s Sinopec Corp is displayed at a news conference in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/

BEIJING (Reuters) – China’s Sinopec Corp suffered a loss worth 1.6 billion yuan (£243.58m) in its first quarter LNG imports, a senior company executive disclosed on Thursday.

Additionally, it stated that the refinery operating ratio has remained at around 85% since the beginning of March as compared with the 92.6% in January.

($1 = 6.5686 renminbi)