Sinopec profit surges on rising oil demand and prices
Chinese energy giant Sinopec has reported a surge in profits driven by an increase in domestic demand and rising oil prices.
Asia's biggest refiner by capacity said its net profit grew by 13.7% to 71.8bn yuan ($10.9bn; £6.8bn) last year.
It also reported an increase in output, processing 211m tonnes of crude oil, a 13.2% jump from a year ago.
China has become the world's biggest car market, resulting in an increase in oil demand.
While demand for fuel has been rising, there has also been a surge in oil prices as the unrest in Libya and the Middle East raises concerns about a shortfall in supply.