July 29 -- Sinopec (600028, 0386.HK) is expected to record a profit of 17.3 billion yuan in the second quarter, and profit of 37.8 billion yuan in the first half of 2011, reports caixing.com, citing a research report by China International Capital Corporation (CICC).

Sinopec is expected to release its interim report on August 26.

According to CICC, the three large Chinese oil companies will be able to report positive earnings in the current environment of high oil prices.

CNOOC (0883.HK) is expected to report a 40 percent rise in profit in the first half to 36.2 billion yuan, while PetroChina (601857,0857.HK) is forecast to post second quarter profit of 34.8 billion yuan, and a profit of 71.8 billion yuan in the first half.

Source:CapitalVue