HONG KONG -- Major Chinese energy companies show signs of recovery in their third-quarter results, as rising domestic demand helped propel a rebound from the coronavirus pandemic.
China Petroleum & Chemical, or Sinopec, nearly quadrupled its July-September net profit on the year, jumping to 46.38 billion yuan ($6.91 billion). Much of the increase came from selling oil and gas pipeline assets at the end of September to China Oil & Gas Pipeline Network, a new state-owned enterprise known as PipeChina.
