China Petroleum & Chemical Corporation 2014 Annual Results Announcement March 23, 2015 Hong Kong
Agenda 2014 Performance Overview & Development Orientation 2014 Operational Results by Segment 2015 Operational Plan 2015-3-23 3
2014 Performance Overview & Development Orientation
Market Environment Global economy experienced weak recovery Domestic apparent consumption of refined oil products International crude oil prices fluctuated at a MM Tonnes 269 high level in the first half year and plunged in the…
Operating Highlights Marketing business realized mixed-ownership operations by restructuring and introducing private capital as scheduled, enhancing our enterprise value; Reform advanced the transition of the business from an oil…
Improving Cash Flow Status 14-13 RMB billion 2012 2013 2014 Change % Net cash generated from operating activities 142.38 151.89 148.35 (2.33) Net cash used in investing activities (162.20) (178.74) (132.63) (25.80) Net cash…
Dividend Considering the company's profitability, shareholder returns, and future development needs, the company announced a year-end dividend of RMB 0.11 / share, with the full year dividend distribution amounting to RMB 0.20 /…
Capital Expenditure Optimized capital expenditure with a focus on quality and efficiency; CAPEX in 2014 was RMB154.6 billion RMB billion E&P: RMB 80.2 Bn 168.6 161.6 Accelerated the investment in Fuling Shale Gas project; 158.7…
Vigorous Implementation of Green and Low Carbon Development Strategy Implemented the Clear Water, Blue Sky Project and the Energy Conservation Campaign First one to publish an ESG report for shale gas development in China, addressing…
Remarkable Achievements from Stringent Management Enhance potential safety risk management, safe operations situation continuously improved Continue to optimize the internal process and regulation Effectively improved managerial…
Accelerated R&D Efforts: Innovation-driven Development Explored the reform of R&D mechanism, created innovative platforms through multiple channels Integrating R&D with production and marketing; effectively embraced the role of…
Adapt to New Normal and build new drivers for development Growth Path R&D + Manufacturing + Service Portfolio optimization Extensive Intensive Improvement of quality and efficiency through technology advancement Plan and…
2014 Operational Results by Segment
Upstream - Steady Growth of Oil & Gas Production 14-13 2012 2013 2014 Change% Oil and gas production (mmboe) 427.95 442.84 480.22 8.44 Crude oil production (mmbbls) 1 328.28 332.54 360.73 8.48 China 306.60 310.84 310.87 0.01…
Upstream - Performance Realized Price of Crude Oil RMB million 2012 2013 2014 USD/bbl 100.20 Operating Profit 70,054 54,793 47,057 95.41 of E&P Segment 90.43 2012 2013 2014 Realized Price of Natural Gas Quarterly…
Refining - Structure Upgrades and Adjustments mm tonnes 14-13 2012 2013 2014 Change% Refinery throughput 221.31 231.95 235.38 1.48 Gasoline, diesel and kerosene production 132.96 140.40 146.23 4.15 Gasoline production 40.55…
Chemicals - Performance Operating profit turnaround in Q3 and further increased in Q4 Chemical Products Price Index (CPPI) RMB million 2012 2013 2014 300 250 Operating Profit of 1,178 868 (2,181) Chemicals Segment 200…
2015 Operational Plan
2015 Market Outlook Chinese economy will enter into New Normal From high growth to moderate-high growth Structure adjustments, proportion increase in the service sector Shift in drivers of economic development International oil…
Improvement of Safe Operation and Environmental Protection Enhance safe operational situation Continue to implement the Clear Water, Blue Sky Project Continue to implement the Energy Conservation Campaign Achieve the companys…
2015 Production Plan Oil and gas production Crude oil production Natural gas production mmboe mmbbls bcf 886 361 348 716 480 496 2014 2015E 2014 2015E 2014 2015E Refinery throughput* Total domestic sales of Ethylene…
2015 Capex Plan Continue to focus on quality and efficiency, and further optimize investments E & P: RMB 68.2Bn Expedite convensional gas & shale gas RMB billion development, LNG and natural gas pipeline constructions 161.6…
Strengthening the cost control At low oil price, strengthen the control of fuel, power and other operational cost, improve the operational efficiency Increase the intensity of reform, optimize management hierarchy, improve employees…
For Further Information http://www.sinopec.com Investor Relations Beijing: Tel: (8610) 59960028 Fax: (8610) 59960386 Email: irsinopec.com Hong Kong: Tel: (852) 28242638 Fax: (852) 28243669 Email: irsinopechk.com New York:…
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