China Petroleum & Chemical Corporation

Q1-Q3 2007 Results Announcement

October 30, 2007Beijing

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前三季度的市场环境

• China’s economy maintained its rapid growth, with GDP rising 11.5% in Q1-Q3

• Domestic demand for refined oil products and chemical products grew steadily

• International crude oil prices kept increasing

• Price controls on refined oil products remained in effect

• Chemical prices remained high

Market Environment in Q1-Q3

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RMB million 1-9’07 1-9’06 change%

Turnover and other operating revenues

875,218 770,296 13.62

EBITDA

102,970 77,624 32.65

EBIT 74,065 53,560 38.28

Net profit attributable to shareholders

of the Company49,818 34,787 43.21

EPS (RMB) 0.575 0.401 43.21

Profit Growth

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RMB million As of 30 Sep. 2007 As of 31 Dec. 2006

Short-term debt 40,422 52,824

Long-term debt 69,303 61,617

Equity attributable to equity shareholders of the Company

298,907 262,845

RMB million 1-9’07

Cash flow from operating activities 98,486

Cash flow used in investing activities (69,158)

Cash flow from financing activities (27,633)

Cash & cash equivalents - ending balance 8,343

Financial Position

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Note: 1 tonne = 7.1 barrels， 1 cubic meter = 35.31 cubic feet

1-9’07 1-9’06 change%

Crude production (million tonnes) 30.69 30.01 2.23

Gas production (billion cubic meters) 5.976 5.348 11.74

Crude realized Price (RMB/tonne) 2,955.57 3,388.03 (12.76)

Gas realized Price (RMB/’000 cubic meters) 809.94 750.70 7.89

Oil & gas lifting cost (RMB/tonne) 557.91 470.35 18.62

EBIT (RMB million) 37,265 52,594 (29.15)

E&P – Operational Summary

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(million tonnes) 1-9’07 1-9’06 change%

Crude oil processed 115.80 108.70 6.53

Gasoline production 18.41 16.97 8.49

Diesel production 44.11 43.01 2.56

Light chemical feedstock production 17.98 17.16 4.78

Kerosene incl. jet fuel production 6.31 4.75 32.84

Light yield (%) 74.41 74.64 (0.23) bps

Refining yield (%) 93.77 93.63 0.14bps

Refining – Operational Summary

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-131

194

132

119

-140-120-100-80-60-40-20

020406080

100120140160180200

1-9'06 1-9'07

80

90

100

110

120

130

140

Refining Margin Cash Operating Cost

Refining Margin / Cash Operating Cost

Refining Margin(RMB/tonne)

Cash Operating Cost(RMB/tonne)

RMB million

EBIT of Refining Segment

-29,651

214

-35000

-30000

-25000

-20000

-15000

-10000

-5000

0

5000

1-9'06 1-9'07

Refining – Segment Performance

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1-9’07 1-9’06 change%

Domestic sales of refined oil products (million tonnes) 88.57 83.06 6.63

Incl. Retail (million tonnes) 55.82 53.39 4.55

Distribution (million tonnes) 15.46 14.49 6.69

Total number of gas stations (# sites) 28,976 28,546 1.51

Incl. Self-operated stations (# sites) 28,280 27,746 1.92

Franchised stations (# sites) 696 800 (13.0)

Annualized throughput of self-operated stations (tonnes/station) 2,632 2,566 2.57

Marketing – Operational Summary

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2,000

3,000

4,000

5,000

6,000

Jan Mar May Jul Sep Nov

2005 2006 2007

2,000

3,000

4,000

5,000

6,000

Jan Mar May Jul Sep Nov

2005 2006 2007

RON 90# Gasoline Guidance Price

RMB/Tonne

0# Diesel Guidance Price RMB/Tonne

EBIT of Marketing Segment

RMB million

20,576

26,026

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

22,000

24,000

26,000

28,000

1-9'06 1-9'07

Marketing – Segment Performance

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Unit: 1,000 tonnes 1-9’07 1-9’06 change%

Ethylene 4,887 4,534 7.79

Synthetic resin 7,207 6,289 14.60

Synthetic fiber 5,921 5,401 9.63

Synthetic rubber 1,074 1,137 (5.54)

Monomer & polymer for synthetic fiber 546 490 11.43

Urea 1,229 1,321 (6.96)

Note: 100% production from YPC-BASF and Shanghai-Secco included.

Chemicals – Operational Summary

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EBIT of Chemicals SegmentRMB million

11,097

10,245

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

1-9'06 1-9'07

Chemicals – Segment Performance

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Capital Expenditure

Exploration and Production: RMB 30.807 billion. Newly built production capacity of crude oil and natural gas was 4.51 million tonnes per year and 0.985 billion cubic meters per year respectively

Refining: RMB12.178 billion. The refinery revamping project in Yanshan completed; The refinery Projects in Qingdao, Luoyang, Wuhan, Gaoqiao and crude oil pier progressed smoothly

Marketing : RMB 7.948 billion. Construction and acquisition of gas stations in key areas continued with 547 newly added stations, the marketing network got improved

Chemicals: RMB 7.207 billion. Construction of Maoming ethylene expansion project, Shanghai glycol project and Yangzi-Jinpu styrene-butadiene rubber projects completed. Ethylene projects of Tianjin， Zhenhai and Fujian, as well as other projects proceeded on schedule.

Corporate & Others – RMB 1.770 billion

RMB million

Q1-Q3 2007 Capex: RMB59.910 bn

59,910

110,060

0

20,000

40,000

60,000

80,000

100,000

120,000

2007 Plan 1-9'07 Actual

E&P Refining

Marketing Chemicals

Corporate & Others

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Media Relations

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