SINOPEC SSC: Middle East business not significantly affected

SINOPEC SSC (01033.HK) Chairman Wu Baizhi stated at the earnings conference that the company's business in the Middle East has not been significantly affected. The company has long been deeply engaged in the Middle East market and has established a complete production operation and emergency system. In the future, it will continue to leverage relevant advantages to hedge against impacts and strive to minimize related effects.

SINOPEC SSC mentioned that the planned new contract amount for the entire year is RMB 92.5 billion (the same below), of which RMB 48.5 billion is from the internal market of China Petroleum & Chemical Corporation, RMB 18 billion from the domestic external market, and RMB 26 billion from the overseas market. In addition, the company plans to arrange capital expenditures of RMB 3.24 billion this year, including fixed asset investments of RMB 2.41 billion