China Integrated Energy dampens outlook

July 29, 2011 |

In China, China Integrated Energy has downgraded their guidance for 2011 net income by $31 million dollars.  Earlier this year, the company anticipated $588 million in sales with a net income  of $72 million, but they are now expecting $497 million in sales, with only $41 million in net income.

CBEH cited several reasons, including government restrictions on chemical and oil production at their Tongchuan facilities during the International Horticultural Exposition, with started in April and is currently ongoing, and the upgrading of the Chongquing plant that resulted in a temporary reduction in biodiesel production.

Category: Fuels

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