Sinopec: Decided to lower the annual capital expenditure plan by about 5%.

On the afternoon of August 21st, Sinopec disclosed in its 2025 semi-annual report that, in terms of capital expenditures, considering resources, markets, and project progress, the company has optimized and adjusted its annual capital expenditure plan and decided to reduce the full-year capital expenditure plan by about 5%. In the second half of the year, capital expenditures in the exploration and development sector will mainly be used for the construction of crude oil production capacity in Jiyang and Tahe, natural gas production capacity in Sichuan West, as well as oil and gas storage and transportation facilities; capital expenditures in the refining sector will mainly be used for projects such as Guangzhou Petrochemical technology renovation and Maoming Refinery transformation and upgrade; capital expenditures in the marketing and distribution sector will mainly be used for the development of integrated energy station networks, the transformation of existing terminal sales networks, and non-oil businesses; capital expenditures in the chemical sector will mainly be used for projects such as Maoming, Henan ethylene, and Jiujiang aromatics; capital expenditures in headquarters and other areas will mainly be used for projects in technology research and development and digitalization.