Sinopec Posts Record Profit

The video discusses the company's financial performance, focusing on operating profit in refining despite high raw material costs due to a clean fuel premium. It highlights the alignment with China's environmental policies to improve air quality. The company has reduced upstream losses significantly, nearing break-even for the first time since 2014. Capital expenditure is low in the first half, with 80% of the budget remaining for the second half, drawing market attention.

What was the company's upstream losses, and how does it compare to previous years?

What does the text suggest about the company's capital expenditure (cap ex) spending?