Sinopec President Wang Temple: "Who is willing to lose money in a monopoly?"

Sinopec President Wang Temple

　 Since the first half of this year in the international oil prices sharply lower oil prices have cut prices in other circumstances, Sinopec insists on not price-cutting strategy, and threw out the domestic "naked" oil price is still lower than the U.S. one, which led the market for its "high - the amount of monopoly profits, "questioned. Yesterday, Sinopec President Wang Temple responded by saying there is no "high monopoly profits."

Sinopec President Wang Temple yesterday to respond to "Sinopec high monopoly profits" of the topic, said that Sinopec does not exist "high monopoly profits" problem.

Yesterday, a guest Renmin Wang Tempe Strong Nation Forum, said Sinopec in recent years, a considerable portion of the benefits paid as a tax to the State, in addition, according to the articles of incorporation and board of directors decided that the company as part of the profits be used as a dividend distributed to investors. The remaining funds be used entirely for business development and construction.

Although the absolute amount of larger Sinopec profits, but compared to the enormous scale of assets and operations, then the profit level is not high. Average amount of assets of large companies from similar profit margins and average sales profit rate are much higher than China's Sinopec level. Wang Tian-Pu also referred to the previous high international oil price of Sinopec during a time when a large number of imports, "In the past few years, in order to meet domestic market demand, China's Sinopec in the international market price is much higher than the domestic situation, has organized a large number of imports, assume spreads huge loss. If we say that this is a monopoly, can anyone really willing to lose the money to a monopoly? "

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"Sinopec Heroic Duo" is alleged to obtain a high monopoly profits

Sinopec net profit of 33.19 billion yuan in the first half of this year, up 332.6 percent; in the oil in the first half net profit reached 50.5 billion. Two companies earn so much money, but most people are not happy, because you petrol, diesel prices rose one to rise, climbing to new heights. More so that people can not be happy that the two companies have made so many monopoly profits, many of which are shared with foreign shareholders.

Sinopec and other companies access to high monopoly profits, one dependent on the monopoly of domestic oil resources, and second, get huge subsidies from the state each year and the third is from the new oil pricing mechanism to get a huge profit. Also has these three advantages, like not rich bad if it tried. (Xinhua Xu starfish)