Sinopec Corp. Announces 2007 Interim Results

Sinopec Corp. Announces 2007 Interim Results

China Petroleum & Chemical Corporation (“Sinopec Corp.” or “the Company”) (HKEX: 386; NYSE: SNP; LSE: SNP; CH: 600028) today announced its interim results for the six months ended 30 June, 2007.

Under PRC accounting rules and regulations, the Company’s income from principal operations was RMB 566.83 billion in the first half of 2007, an increase of 15.4% over the same period of 2006. Net profit attributable to the equity shareholders of the parent company was RMB 34.93 billion, up 65.30% compared with the same period of 2006.

Under International Financial Reporting Standards (IFRS), the Company’s turnover with other operating revenues and income was RMB 554.3 billion in the first half of 2007, an increase of 15.5% when compared to the same period of 2006. Profit attributable to shareholders of the Company was RMB 36.19 billion, an increase of 65.5% compared to the same period of 2006.

The Board of Directors proposed an interim dividend of RMB 0.05 per share.

Mr. Wang Tianpu, President of Sinopec Corp., said, “Despite extreme complexity in the domestic and international markets in the first half of this year, the Company has maintained its development momentum, thanks to the combined efforts of our management and staff. Steady growth has been maintained in oil and natural gas production, crude oil processing volume, oil products sales, and output of major chemical products; the Company’s economic performance showed considerable growth over the same period last year. All these developments met our targets.”