1. China Petroleum & Chemical Corporation Q1 2008 Results Announcement
28 April 2008

2. Disclaimer
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. 2

3. Market Environment in Q1 2008
China’s economy maintained rapid growth
Domestic consumption of refined oil products and chemicals increased steadily
International crude oil prices kept increasing
Domestic refined oil product prices still tightly controlled
Chemical product prices remained high

4. Financial Data Q1 2007 Q1 2008 Change %
RMB million Q
Q1 2008
Change %
Turnover, other revenues and other income
277,149
339,284
22.4
EBITDA
38,304
14,374
(62.5)
EBIT
28,635
3,031
(89.4)
Net profit attributable to shareholders of the company
19,609
6,062
(69.1)
EPS (RMB)
0.226
0.070

5. Financial Position 31 Dec 2007 31 Mar 2008 Short-term debts 44,654
RMB million
31 Dec 2007
31 Mar 2008
Short-term debts
44,654
60,777
Long-term debts
83,134
99,467
Equity attributable to shareholders of the company
307,433
320,374
Q1 2008
Net cash flow from operating activities
2,663
Net cash flow from investing activities
(15,474)
Net cash flow from financing activities
32,663

6. E&P—Operational Summary & Performance
Q1 2007
Q1 2008
Change %
Crude oil production (mm bbls)
70.96
73.36
3.4
Natural gas production (bcf)
70.48
72.63
3.1
Realized price of crude oil (RMB/tonne)
2,582.70
3,943.01
52.7
Realized price of natural gas (RMB/thousand cubic meter)
799.27
916.79
14.7
Lift cost (RMB/tonne)
505.29
601.70
19.1
EBIT（RMB million）
11,654
11,540
(1.0)
Note: 1 tonne=7.1 barrels, 1 cubic meter=35.31 cubic feet

7. Refining—Operational Summary
Q1 2007
Q1 2008
Change %
Refinery throughput (mm tonnes)
38.23
41.89
9.6
Gasoline production (mm tonnes)
6.19
6.93
12.0
Diesel production (mm tonnes)
14.39
16.61
15.4
Kerosene incl. jet fuel production (mm tonnes)
1.87
2.00
7.0
Light chemical feedstock production (mm tonnes)
6.15
6.29
2.3
Light stream yield(%)
73.72
74.45
73 bps
Refining yield(%)
93.45
93.81
36 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 2007
Q1 2008
Change %
Domestic sales of refined oil products
(mm tonnes)
27.47
30.18
9.9
Incl. Retail (mm tonnes)
17.24
20.28
17.6
Distribution (mm tonnes)
4.70
4.89
4.0
Wholesale (mm tonnes)
5.52
5.01
(9.2)
Total number of service stations (unit)
28,885
29,130
0.8
Incl. Company-operated
28,075
28,477
1.4
Franchised
810
653
(19.4 )
Annualized average pump volume per station (tonnes)
2,457
2,848
15.9

10. Marketing—Performance
RON #90 Gasoline Retail Guidance Price
EBIT of Marketing Segment
RMB/tonne
RMB million
#0 Diesel Retail Guidance Price
RMB/tonne

11. Chemicals—Operational Summary
thousand tonnes
Q1 2007
Q1 2008
Change %
Ethylene
1,632
1,695
3.9
Synthetic resins
2,364
2,482
5.0
Synthetic rubbers
189
226
19.6
Monomers & Polymers for synthetic fibers
1,910
1,994
4.4
Synthetic fibers
355 -
Urea
366
283
(22.7)
Note: Includes 100% production from BASF-YPC and Shanghai-Secco

12. Chemicals—Performance
EBIT of Chemicals Segment
Chemicals Price Spread (2002-Mar. 2008)
RMB million
USD/tonne

13. Capital Expenditure Total Capex in Q1 2008: RMB 15.034 bn
E&P: RMB7.698 billion. Sichuan-East China Gas Project progressed smoothly
Refining: RMB billion. Qingdao 10 million tpa refinery project, Wuhan and other oil products quality upgrading projects progressed smoothly
Chemicals: RMB 2.097billion. Mainly used for Tianjin 1 million tpa ethylene project, Zhenhai 1 million tpa ethylene project and Jinling 0.6 million tpa PX project
Marketing: RMB billion. Remarkable progress in building and purchasing service stations in key regions; added 100 new stations
Corporate and others: RMB billion
RMB 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)