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vineseeker2

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vineseeker2

Re: midtieroil post# 208050

Wednesday, 03/31/2010 9:44:46 PM

Wednesday, March 31, 2010 9:44:46 PM

Post# of 362034
The sinopec profit margin is down because they don't control the sales price, the chinese government does. The price of oil they pay is based upon the international market price, the sales price is controled and the government was very reluctant to allow any price increases. Sinopec profit margins are compressed between the fluciation of the world oil prices and arbitrary sales prices set by the chinese government
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