1. China Petroleum & Chemical Corporation Q1 2009 Results Announcement
29 April 2009

2. Disclaimer
As required by the CSRC, financial statements of the first quarter of Sinopec Corp. (the “Company”) were prepared under PRC Accounting Rules and Regulations. The Company has adjusted part of the financial data in accordance with the International Financial Reporting Standards hereby for the reference of international investors. Financial data of the first quarter contained in the presentation and presentation materials are unaudited.
This presentation and the presentation materials distributed herein include forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that Sinopec Corp. expects or anticipates will or may occur in the future (including but not limited to projections, targets, estimates and business plans) are forward-looking statements. Sinopec Corp.'s actual results or developments may differ materially from those indicated by these forward-looking statements as a result of various factors and uncertainties, including but not limited to price fluctuations, actual demand, exchange rate fluctuations, exploration and development outcomes, estimates of proven reserves, competition, environmental risks, changes in legal, financial and regulatory frameworks, international economic and financial market conditions, political risks, project delay, project approval, cost estimates and other risks and factors beyond our control. In addition, Sinopec Corp. makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements.

3. Market Environment in Q1 2009
China’s GDP grew by 6.1% in the first quarter
International crude oil price fluctuated at relatively low level
New oil product pricing mechanism improved refining business environment
Influenced by financial crisis, oil product and chemical demand declined compared with Q1 2008
Domestic demand for oil and petrochemical products increased month by month thanks to the government’s stimulus plans

4. Financial Performance
EBIT of Each Segment
RMB million
Q1 2008
Q1 2009
Change %
Turnover, other revenues and other income
339,284
228,585
(32.6)
EBITDA
14,374
28,489
98.2
EBIT
3,031
16,494
444.2
Net profit attributable to shareholders of the company
6,062
11,219
85.1
EPS (RMB)
0.070
0.129
RMB million

5. Financial Position 31 Dec 2008 31 Mar 2009 Short-term debts 74,896
RMB million
31 Dec 2008
31 Mar 2009
Short-term debts
74,896
56,311
Long-term debts
90,254
98,056
Equity attributable to shareholders of the company
328,669
340,154
Q1 2009
Net cash flow from operating activities
53,248
Net cash flow from investing activities
(17,495)
Net cash flow from financing activities
(31,449)

6. E&P—Operational Summary & Performance
Q1 2008
Q1 2009
Change %
Crude oil production (mm bbls)
73.36
73.81
0.6
Natural gas production (bcf)
72.63
69.98
(3.6)
Realized price of crude oil (RMB/tonne)
3,943.01
1,599.01
(59. 4)
Realized price of natural gas (RMB/thousand cubic meter)
916.79
961.53
4.9
Lift cost (RMB/tonne)
601.70
604.79
0.5
EBIT（RMB million）
11,540
2,756
(76.1)
Note: 1 tonne=7.1 barrels, 1 cubic meter=35.31 cubic feet

7. Refining—Operational Summary
Q1 2008
Q1 2009
Change %
Refinery throughput (mm tonnes)
41.89
40.51
(3.3)
Gasoline production (mm tonnes)
6.93
7.99
15.3
Diesel production (mm tonnes)
16.61
15.15
(8.8)
Kerosene incl. jet fuel production (mm tonnes)
2.00
2.18
9.0
Light chemical feedstock production (mm tonnes)
6.29
5.76
(8.4)
Light stream yield(%)
74.45
74.98
53 bps
Refining yield(%)
93.81
93.69
(12) bps

8. Refining—Performance
Refining Margin / Cash Operating Cost
EBIT of Refining Segment
Refining margin
RMB/tonne
Cash operating cost
RMB/tonne
RMB million

9. Marketing—Operational Summary
Q1 2008
Q1 2009
Change %
Domestic sales of refined oil products
(mm tonnes)
30.18
26.43
(12.4)
Incl. Retail (mm tonnes)
20.28
17.37
(14.3)
Distribution (mm tonnes)
4.89
5.05
3.3
Wholesale (mm tonnes)
5.01
4.01
(20.0)
Total number of service stations (unit)
29,130
29,338
0.7
Incl. Company-operated
28,477
28,703
0.8
Franchised
653
635
(2.8)
Annualized average pump volume per station (tonnes)
2,848
2,420
(15.0)

10. Marketing—Performance
Maximum Retail Price Adjustment
EBIT of Marketing Segment
RMB million
Date of adjustment
RON 90# Gasoline
(RMB/tonne)
0# Disel
19 Dec 2008
6380
5770
15 Jan 2009
6240
5610
25 Mar 2009
6530
5790
RMB/tonne
Q1 2008
Q1 2009
Marketing cash operating cost
148.3
162.6

11. Chemicals—Operational Summary
thousand tonnes
Q1 2008
Q1 2009
Change %
Ethylene
1,695
1,488
(12.2)
Synthetic resins
2,482
2,400
(3.3)
Synthetic rubbers
226
198
(12.4)
Monomers & Polymers for synthetic fibers
1,994
1,723
(13.6)
Synthetic fibers
355
315
(11.3)
Urea
283
362
27.9
Note: Includes 100% production from BASF-YPC and Shanghai-Secco

12. Chemicals—Performance
Chemical Price Spread ( )
EBIT of Chemicals Segment
USD/tonne
RMB million

13. Capital Expenditure Total Capex in Q1 2009: RMB 15.28bn RMB billion
E&P: RMB 7.78 billion. Sichuan-East China Gas Project approached completion
Refining: RMB 1.57 billion. Mainly used in upgrading of refineries
Chemical: RMB4.64 billion. Mainly used for major ethylene projects
Marketing: RMB 0.99 billion. Construction of service stations and pipeline in key areas
Corporate and others: RMB 0.30 billion

14. For Further Information
Investor Inquiries
Beijing: Tel: (8610) Fax: (8610)
Hong Kong: Tel: (852) Fax: (852)
New York : Tel: (212) Fax: (212)
Media Inquires
Tel: (8610)
Fax: (8610)