Sinopec (SNP) recently reported results for the six months ended June 30. Net income for the period increased significantly from the year-earlier level to RMB 33.2 billion ($4.87 billion). The positive results reflect a steady growth in oil and gas volumes and profit from the refining business.   Sinopec’s crude oil production during the period rose nearly 1.2% year over year, while natural gas volumes dropped 1.1% from the year-earlier period. The company’s refining business recorded crude oil processing volumes of 86.9 million tons (a 1.8% year over year increase) and production output of refined oil products of 54.0 million tons (a 3.5% increase from the year-ago quarter).   Marketing and Distribution segment’s sales and retail volume of refined oil products decreased 8.4% and 12.8% year over year, respectively. The company’s Chemicals segment output of ethylene and synthetic resins reached 2.97 million and 4.74 million tons, respectively, as ...