Chinese oil majors' sales and production up


CNPC and Sinopec have both reported a steady growth in production and operations in 2013.

Sinopec has seen sales of its lubricants products increase by 30% during the first ten months of the year, spurred by sales of high quality lubes, anti-freeze products, transmission fluids and synthetic oils.

The lubes arm of Sinopec has made headway in reducing pollutants in its high-quality lubricating oils, which it claims has increased marketability to consumers.

Meanwhile, fellow oil giant CNPC has announced a steady increase in sales and production throughout the first three quarters of 2013. Company turnover was 1.3tn yuan ($213bn) through September, representing an increase of 5.3% year on year.

The company focused marketing initiatives on improving quality and increasing profitabilty on existing products, although actual sales decreased significantly from the year before. The company made just 6.7bn yuan ($1.1bn) in profit from both overseas and domestic operations - a 43.1% decrease from 2012.