➤ Asia

Sinopec releases its 2023 annual report. In 2023, the company achieved a revenue of 321.2215 billion yuan (approximately 445.3 billion US dollars), a year-on-year decrease of 3.2%; The net profit attributable to the parent company was 60.463 billion yuan, a year-on-year decrease of 9.9%. In 2023, the company's oil and gas equivalent production was 70.92 million tons, a year-on-year increase of 3.1%; Natural gas production reached 37.9 billion cubic meters, a year-on-year increase of 7.1%; Processed 258 million tons of crude oil, a year-on-year increase of 6.3%; The total sales volume of domestic refined oil products reached 188 million tons, a year-on-year increase of 15.8%; Ethylene production reached 14.314 million tons, a year-on-year increase of 6.5%.

Saudi Aramco releases its 20223 performance report. The total revenue decreased by 17%, from $535.19 billion last year to $440.88 billion. Net profit decreased by 25%, from $161.1 billion in 2022 to $121.3 billion. Despite the decline in profits, this result remains Saudi Aramco's second highest net profit in history, far exceeding the profitability of its largest global peers. Saudi Aramco has increased its dividend to nearly $100 billion.

China National Petroleum Corporation releases its 2023 financial report. According to International Financial Reporting Standards, the operating revenue for 2023 is expected to be RMB 3011.012 billion (approximately USD 417.4 billion), a decrease of 7.0% compared to the previous year. The group achieved a net profit attributable to the shareholders of the parent company of 161.146 billion yuan, a year-on-year increase of 8.3%, reaching a historical high. In 2023, the company's oil and gas equivalent production was 1.76 billion barrels, a year-on-year increase of 4.4%. The saleable natural gas production was 4.7 trillion cubic feet, a year-on-year increase of 6.0%. Produced 120 million tons of refined oil, a year-on-year increase of 16.5%.

Japanese refinery ENEOS Holdings, Inc. announced its financial results for the first nine months of the fiscal year (April December 2023). The net sales for the current period were 1024.53 billion yen (approximately 67.7 billion US dollars), compared to 11335.1 billion yen in the same period last year. The current operating profit was 386.3 billion yen, compared to 249.8 billion yen in the same period last year. The net profit attributable to the owners of the parent company for the current period was 206.8 billion yen, compared to 96 billion yen in the same period last year.

Petronas announced its fourth quarter and full year performance for 2023. The total quarterly revenue of the group was 91.7 billion ringgit (approximately 19.4 billion US dollars), compared to 104.2 billion ringgit in the same period last year. After tax profit (PAT) was 16.6 billion ringgit, compared to 24.4 billion ringgit in the same period last year; The earnings before interest, tax, depreciation and amortization (EBITDA) amounted to MYR 24.7 billion, compared to MYR 40.6 billion in the same period last year. The total revenue of the group for the year was 343.6 billion ringgit (approximately 72.7 billion US dollars), compared to 372.3 billion ringgit in the previous year. After tax profit (PAT) was RM80.7 billion, compared to RM101.6 billion in the previous year; The earnings before interest, tax, depreciation and amortization (EBITDA) amounted to RM128.6 billion, compared to RM170.7 billion in the previous year.

CNOOC releases its 2023 annual report. In 2023, the operating revenue will reach 416.609 billion yuan (approximately 57.8 billion US dollars), a year-on-year decrease of 1.3%, mainly due to the increase in oil and gas sales and trade volume, as well as the impact of the decline in international market oil prices; The net profit attributable to shareholders of the listed company was 123.843 billion yuan, a year-on-year decrease of 12.6%.

SK Innovation in South Korea announced its fourth quarter and full year performance for 2023. Quarterly sales of KRW 1.95293 trillion (approximately USD 14.5 billion) and operating profit of KRW 72.6 billion. Among them, the sales revenue of the refining business is 12878 billion Korean won, the sales revenue of the petrochemical business is 2452 billion Korean won, the sales revenue of the lubricating oil business is 1094.2 billion Korean won, and the sales revenue of the battery business is 2723.1 billion Korean won. The annual sales revenue was 772885 billion Korean won (approximately 57.6 billion US dollars), compared to 780569 billion Korean won the previous year. The annual operating profit was KRW 1903.9 billion, compared to KRW 3917.3 billion in the previous year.

Idemitsu Kosan Co., Ltd. announced its financial performance for the first nine months of the fiscal year (April December 2023). The net sales for the current period were 6402.3 billion yen (approximately 42.3 billion US dollars), compared to 721.13 billion yen in the same period last year. The current operating profit was 293.7 billion yen, compared to 298.9 billion yen in the same period last year. The net profit attributable to the owners of the parent company for the current period was 239.1 billion yen, compared to 249.6 billion yen in the same period last year.

GS Caltex Corporation announces full year 2023 results. The annual sales revenue was KRW 48607.5 billion (approximately USD 35.1 billion), compared to KRW 585321 billion in the previous year. The annual operating profit was 1683.8 billion Korean won, compared to 3979.5 billion Korean won in the previous year. The net profit attributable to the owners of the parent company for the whole year was 1152.7 billion Korean won, compared to 2789.4 billion Korean won in the same period last year.

Cosmo Energy announced its financial performance for the first nine months of the fiscal year (April December 2023). The net sales for the current period were 2013.2 billion yen (approximately 13.3 billion US dollars), compared to 2096.1 billion yen in the same period last year. The current operating profit was 101.7 billion yen, compared to 152.9 billion yen in the same period last year. The net profit attributable to the owners of the parent company for the current period was 45.8 billion yen, compared to 62.1 billion yen in the same period last year.