|Bid||6.460 x 0|
|Ask||6.470 x 0|
|Day's range||6.330 - 6.470|
|52-week range||5.400 - 7.160|
|PE ratio (TTM)||15.12|
|Forward dividend & yield||0.23 (3.74%)|
|1y target est||7.63|
Bit by bit, the U.S. petroleum industry is turning world oil markets inside out. First, sharp drops in U.S. imports of crude oil eroded the biggest market that producers like OPEC had relied on for many years. Now, surging U.S. exports – largely banned by Washington until just two years ago - challenge the last region OPEC dominates: Asia.
China's natural gas production is rising at the fastest pace in four years but that will not be enough to meet the demand for the fuel that has been unleashed through a government programme to raise gas usage in order to clean the country's polluted air. Gas output in China rose to a record 147.4 billion cubic metres (bcm) last year, up 8.5 percent from 2016, data from the National Bureau of Statistics showed. Gas production is forecast to climb by between 6 percent to 8 percent per year through 2020, according to researchers at China National Petroleum Corp.
BEIJING/LONDON (Reuters) - China's Sinopec Corp inched closer on Thursday to victory over Glencore in their battle for Chevron's (CVX.N) South Africa and Botswana assets, saying the South African government favoured its bid. South Africa's Competition Commission recommended the roughly $900 million transaction with Sinopec be approved with certain conditions, Asia's largest refiner said in a statement. South Africa's government later announced that it had reached an agreement with Sinopec on public interest issues and that the transaction was pending final approval.
BEIJING/LONDON, Jan 11 (Reuters) - China's Sinopec Corp (HKSE: 0386-OL.HK - news) inched closer on Thursday to victory over Glencore in their battle for Chevron (Euronext: CHTEX.NX - news) 's South Africa and Botswana assets, saying the South African government favoured its bid. South Africa's Competition Commission recommended the roughly $900 million transaction with Sinopec be approved with certain conditions, Asia's largest refiner said in a statement.
South Africa will stick with China's Sinopec Corp (HKSE: 0386-OL.HK - news) as the preferred contender to buy Chevron (Euronext: CHTEX.NX - news) 's assets in South Africa and Botswana after it made a fresh commitment to future investments in the country, the Chinese oil major said on Thursday. State-owned Sinopec is competing for the assets with commodities trader and miner Glencore (Frankfurt: 8GC.F - news) , which swooped in last October with a $973 million bid following delays to Sinopec's original agreement. Asia's largest refiner said in a statement that South Africa's Competition Commission had recommended transaction with Sinopec be approved with certain conditions.
Let's see if China Petroleum & Chemical Corporation (SNP) stock is a good choice for value-oriented investors right now from multiple angles.
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