1. China Petroleum & Chemical Corporation Q1-Q3 2008 Results Announcement
October 30, 2008

2. Market Environment in Q1-Q3
China’s GDP grew by 9.9% in the first 3 quarters
Crude oil price surged to historical high and then declined sharply
Domestic refined oil product prices remained tightly controlled
Chemical Prices also surged and retreated

3. Financial Results 1-9’08 1-9’07 Change%
RMB million
1-9’08
1-9’07
Change%
Turnover, other operating revenue and other revenue
1,192,503
871,843
36.8
EBITDA
51,686
103,261
(49.9)
EBIT
18,091
74,027
(75.6)
Net profit attributable to shareholders of the Company
16,423
49,785
(67.0)
EPS (RMB)
0.189
0.574

4. Financial Position As of 30 Sep. 2008 As of 31 Dec. 2007
RMB million
As of 30 Sep. 2008
As of 31 Dec. 2007
Short-term debt
120,671
44,654
Long-term debt
129,716
83,134
Equity attributable to equity shareholders of the Company
316,087
307,433
1-9’08
Cash flow from operating activities
(10,166)
Cash flow used in investing activities
(72,388)
Cash flow from financing activities
85,415
Cash & cash equivalents - ending balance
10,461

5. E&P – Operational Summary
1-9’08
1-9’07
Change%
Crude production (million tonnes)
31.33
30.69
2.1
Gas production (billion cubic meters)
61.05
59.76
2.2
Crude realized Price (RMB/tonne)
4,698.73
2,955.57
59.0
Gas realized Price (RMB/’000 cubic meters)
934.38
809.94
15.4
Oil & gas lifting cost (RMB/tonne)
617.18
557.91
10.6
EBIT (RMB million)
52,397
37,265
40.6
Note: 1 tonne = 7.1 barrels，1 cubic meter = cubic feet

6. Refining – Operational Summary
(million tonnes)
1-9’08
1-9’07
Change%
Refinery Throughput
128.77
120.07
7.2
Gasoline production
21.35
19.36
10.3
Diesel production
52.51
45.75
14.8
Kerosene incl. jet fuel production
5.95
6.31
(5.7)
Light chemical feedstock production
18.09
18.10
(0.1)
Light yield (%)
74.64
73.93
71bps
Refining yield (%)
93.76
93.80
(4bps)

7. EBIT of Refining Segment
Refining – Segment Performance
Refining Margin /
Cash Operating Cost
EBIT of Refining Segment
RMB million

8. Marketing – Operational Summary
1-9’08
1-9’07
Change%
Domestic sales of refined oil products (million tonnes)
94.81
88.57
7.0
Incl. Retail (million tonnes)
63.60
55.82
13.9
Distribution (million tonnes)
15.17
15.46
(1.9)
Total number of gas stations (# sites)
29,220
28,976
0.8
Incl. Self-operated stations (# sites)
28,578
28,280
1.1
Franchised stations (# sites)
642
696
(7.8)
Annualized throughput of self-operated stations (tonnes/station)
2,967
2,632
12.7

9. Marketing – Segment Performance
RON 90# Gasoline Guidance Price
EBIT of Marketing Segment
RMB/Tonne
RMB million
0# Diesel Guidance Price
RMB/Tonne

10. Chemicals – Operational Summary
Unit: 1,000 tonnes
1-9’08
1-9’07
Change%
Ethylene
4,850
4,887
(0.8)
Synthetic resin
7,294
7,218
1.1
Monomer & polymer for synthetic fiber
5,691
5,921
(3.9)
Synthetic fiber
982
1,078
(8.9)
Synthetic rubber
653
546
19.6
Urea
1,198
1,229
(2.5)
Note: 100% production from YPC-BASF and Shanghai-Secco included.

11. Chemicals – Segment Performance
EBIT of Chemicals Segment
RMB million

12. Capital Expenditure
Q1-Q Capex: RMB bn
E&P: RMB bn, newly added 3.68 million tonne/year crude capacity and 699 million m3/year gas capacity
Refining: RMB bn, Qingdao refinery, upgrading of Wuhan and Luoyang refinery and Caofeidian oil jetty were put into operation
Marketing: RMB bn, progress made in construction and acquisition of stations with 369 stations added
Chemicals: RMB bn, YPC’s 100 kpa butadiene project completed. Tianjin and Zhenhai ethylene project proceeding on schedule
Corporate & Others: RMB bn
RMB million
* Adjusted Capex plan

13. For Further Information
Investor Relations
Beijing: Tel: (8610) Fax: (8610)
Hong Kong: Tel: (852) Fax: (852)
New York: Tel: (212) Fax: (212)
Media Inquiry
Tel: (8610)
Fax: (8610)