Sinopec Shanghai cautions a net loss for H1-08

18-Jul-08
China-based oil refiner, Sinopec Shanghai Petrochemicals Co Ltd, has signaled a warning to declare a net loss for H1 ending June, 2008. This loss is estimated to be declared while announcing the interim results on August 28, attributed to considerably escalating international crude oil costs and the price limits imposed on the refined products in China. The refining company in the mainland which has shown indications to post a net loss in the H1 of 2008 announced a net profit of 1.75 bln yuan in the corresponding half of the previous year.
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