28 Oil & Petrochemical Companies Report H1 Surge, 15 See Profit Growth as Chemical Prices Rise

According to Shanghai Securities Report, as of July 20, 28 oil and petrochemical listed companies have disclosed first-half earnings guidance. Among them, 15 companies reported profit growth, while 5 achieved profitability or reduced losses. The gains were driven by Middle East geopolitical tensions that triggered global chemical price increases. Wang Qiangfeng, chief analyst of the chemical industry at Huaan Securities, noted that inventory destocking has led to significant margin improvements for certain well-positioned products.
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