BEIJING (Reuters) – China’s Sinopec Corp incurred a loss of 1.6 billion yuan ($243.58 million) on its LNG imports in the first quarter due to high import costs, a company executive said on an earnings call on Thursday.
The company also said it is maintaining an “optimal” refinery operation ratio of around 85% from the second half of March compared with 92.6% earlier in the year.
($1 = 6.5686 Chinese yuan renminbi)
(Reporting by Chen Aizhu and Muyu Xu; Writing by Dominique Patton; Editing by Muralikumar Anantharaman)
