Sinopec: Current oil product inventory is able to guarantee stable production and operation, and multiple contingency plans have been formulated.

On March 23, during the 2025 Annual Performance Conference of Sinopec, the executives mentioned that the recent geopolitical conflicts have had a significant impact on the global economic and trade landscape, especially the interruption of navigation in the Strait of Hormuz which has directly impacted international oil and gas trade, posing major challenges to the company's production and operation. Due to unfavorable factors such as a significant increase in crude oil prices, tight import of crude oil resources, and high shipping costs, the production and operation of the refining and chemical business of the company are facing major challenges. Overall, the sales of refined oil products have remained stable, and the upstream business can achieve good benefits at the current oil prices. As of now, the company's crude oil and refined oil inventories can guarantee stability in production and operation. The company will strengthen market research and analysis, dynamically optimize and adjust production and operation arrangements, meet domestic market demand, and maintain stability in production and operation. If the Middle East geopolitical conflicts continue for a prolonged period, it will pose a huge challenge to the company's petrochemical business. The company has also developed multiple contingency plans to address challenges in various scenarios.