- Sluggish domestic demand for oil products and petrochemicals in the second half of this year has led to slumping prices, dull sales and high product stocks, it said.
- Company officials said during the meeting, held to review production and sales plans for next year's first quarter, that operating conditions deteriorated further in the second half year due to the international financial crisis.

Other headlines for [SNP]

• PTR 1/5/2009 09:07pm
  PetroChina Co Ltd Sinopec and PTR cut their prices for gasoline and diesel in Shanghai - Shanghai Securities News- PetroChina cut retail prices by more than 5% as of Dec 25. - Sinopec cut prices at about 80 of its more...
  
• SNP 1/1/2009 11:11pm
  China Petrochemical Sinopec The company produced approximately 42M metric tons of crude oil in 2008, sales revenue was CNY1.28T ($187.6B)- Annual crude output was equivalent to 307.86M v 291.67M barrels y/y. - Sinopec said more...
  
• SNP 1/1/2009 09:41pm
  China Petrochemical Sinopec The company held 34.8M metric tons of gasoline in stock at the end of Nov (+5.14% m/m) - Xinhua- The company's diesel stocks hit 52M barrels at the end of Nov (+0.78% m/m)
  
• SNP 12/29/2008 10:33pm
  China Petrochemical Sinopec The company has added 104M metric tons of proven oil reserves at its Shengli field- Note: Shengli is China's second largest oil field.
  
• USO 12/25/2008 06:49am
  US Oil Fund China adding 6M barrels to its main oil reserve depot effective immediately-The facility, operated by China National Petroleum (CNPC), eventually plans to store 50M bbl of crude once construction of more...
  

Energy sector headlines

• CMZ Today 05:40pm
  Compton Petroleum Names Tim Granger President/CEO
  
• ASTI Today 05:32pm
  Ascent Solar Technologies Files $150M mixed securities shelf (180% of market cap)
  
• OII Today 04:13pm
  Oceaneering International Guides ROV fleet utilization in mid- to high 80% range, 2008 earnings +10% y/y - filing- Expects ROV fleet utilization rate during the 4th quarter of 2008 will be in the mid to high 80% range, and more...
  
• PCX Today 04:05pm
  Patriot Coal, Inc. To cut jobs, implements prior plans to close Jupiter mine, citing market conditions- The Company announced on September 29, 2008, its intention to idle the Jupiter thermal coal facility. - In more...
  
• TMR Today 02:02pm
  Meridian Resource Corp. Names Chairman Paul Ching interim CEO