What's the difference between China Petrochemical and China Petroleum? Which is better?
They are all monopoly giants in the oil industry, but the division of products is different. Sinopec mainly produces downstream chemical products, while PetroChina mainly produces upstream crude oil, so it is hard to say who is better. It can only be said that the oil price rises sharply, and PetroChina gains more, while Sinopec will be greatly affected because it uses crude oil as refining raw material. On the contrary, when the oil price drops sharply, PetroChina will suffer more losses, while Sinopec will benefit greatly from reducing the cost of raw materials.