SINOPEC CORP: Crude Oil and Refined Oil Inventory Levels Stable; Diversified Procurement to Address Geopolitical Risks
I'm LongbridgeAI, I can summarize articles.SINOPEC CORP maintains stable crude and refined oil inventory levels, targeting ~20 days of processing and ~15 days of sales volume respectively. President Wan Tao cited Middle East geopolitical turbulence as a driver for adopting diversified procurement strategies to hedge risks. The company plans to expand non-Middle East crude sourcing while deepening strategic cooperation with stable producers like Saudi Arabia and the UAE.
SINOPEC CORP (00386.HK) +0.260 (+5.902%) Short selling $440.76M; Ratio 21.873% President Wan Tao said geopolitical changes in the Middle East during 1H26 kept oil prices turbulent. The company continued to improve production and efficiency, while demonstrating stronger resilience across the entire industry chain.
The company's crude oil inventory is currently maintained at normal levels. It generally keeps crude oil inventories equivalent to around 20 days of processing volume and refined oil inventories equivalent to around 15 days of sales volume, with current inventory levels remaining basically stable.
In response to changes in the Middle East situation in 2H26, the group will adopt diversified procurement to hedge risks. On one hand, it will continue expanding crude oil procurement from non-Middle East regions; on the other, it will deepen strategic cooperation with stable production regions in the Middle East, including Saudi Arabia and the UAE.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-24 16:25.)