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Why do PetroChina and Sinopec lose money every year?
1. China Petroleum and Natural Gas Group Company (abbreviated as "China Petroleum" or "PetroChina" in Chinese) is an important state-owned backbone enterprise, a comprehensive international energy company whose main business is oil and gas business, engineering technical services, petroleum engineering construction, petroleum equipment manufacturing, financial services and new energy development, and one of the major oil and gas producers and suppliers in China.

2. China Petrochemical Group Co., Ltd. (hereinafter referred to as Sinopec Group) is a super-large petrochemical enterprise group reorganized by the state on the basis of the original sinopec group in July 1998. It is a state-owned company wholly owned by the state, an investment institution authorized by the state and a state holding company. The registered capital of the company is 326.5 billion yuan, the chairman of the board is the legal representative, and the headquarters is located in Beijing.

3. The investment in financial derivatives such as crude oil and futures is risky, and the market risk changes greatly, which may go up and down. Please invest carefully.

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