By Martin Mou

China Petroleum & Chemical Corp., better known as Sinopec Corp., posted higher profit in the third quarter, partly helped by recovering domestic demand.

Net profit for the period grew to 46.39 billion yuan ($6.92 billion) from CNY11.94 billion a year earlier, the Chinese oil major said Wednesday.

Third-quarter operating income, however, fell to CNY520.37 billion from CNY734.31 billion in the year-ago period.

The company's major business segments, including refinery as well as exploration and development, all recorded profit before tax and interests in the third quarter, Sinopec said.

The company had posted a net loss in the first half of the year.

For the first nine months of the year, the company's net profit slumped 46% to CNY23.51 billion.

Write to Martin Mou at martin.mou@wsj.com

(END) Dow Jones Newswires

10-28-20 0524ET