Refineries to Make Profits in Remaining Months      

As the international crude oil price fell to UD$95 per barrel September 16th, refineries in China would see a profit/loss balance, according to an executive of Sinopec Corp. (SH: 600028).
   Domestic refineries would escape from losses this October, followed the dipping global crude oil price.
    The refining business of Sinopec Corp. has suffered loss since 2004, with the loss of around RMB46 billion in the first half of 2008.
   "The refining business of Sinopec Corp. will not soon see making-profit because crude oil price is supposed by one month before," an insider revealed on condition of anonymity.
   The supply of oil products in Chinese market is currently increasing obviously. The operation rate for local refineries is raised.
   Analysts expect the global crude oil price to decline further in future. The China's economy growing will fuel the demand for oil products, bringing the good records to Sinopec Corp. and PetroChina.