BEIJING -- Oil giant China Sinopec announced Tuesday that its net profit rose 22.11 percent year on year to 52.3 billion yuan ($8.52 billion) in the first three quarters of 2013.

The company's output of crude oil and natural gas went up 4 percent year on year to 330.79 million barrels, according to Sinopec's report.

In the first nine months, it processed 174.19 million tons of crude oil, an increase of 6.43 percent from a year earlier, which realized gains of 6.66 billion yuan in the refining sector while the losses of chemical businesses shrank to 59 million yuan.

Meanwhile, the company's sales of refined oil products totaled 134.64 million tons, up 4.91 percent year on year.