|Bid||7.050 x 0|
|Ask||7.060 x 0|
|Day's range||6.970 - 7.160|
|52-week range||5.400 - 8.350|
|PE ratio (TTM)||13.90|
|Forward dividend & yield||0.61 (8.29%)|
|1y target est||8.81|
Mar.25 -- China Petroleum & Chemical Corp. will pay a record-high dividend as its massive fuels and chemical segments helped it post a nearly 10 percent increase in full-year profit. Bloomberg's Aibing Guo reports on "Bloomberg Markets."
As the trade war between the U.S. and China heats up, China is looking to reduce its U.S. oil imports in order to avoid a possible tariff on American oil – bad news for U.S. producers
The equipment was designed and built by China's state-owned energy major Sinopec, the result of a decades-long government drive to develop low-cost domestic technology to tap the country's vast shale gas resources buried in the region's mountainous terrain. It is the latest key technology that China has learned to master. Except for a handful of higher-end tools, Sinopec and a crop of independent companies make everything from trucks and pumps to drilling fluid and proppants - treated sand or man-made ceramics used to "prop" open a fracture to allow gas to escape.
State majors Sinopec and CNPC produced 9 billion cubic metres (bcm) of shale gas in 2017 from 600 wells, six percent of the country's total gas output. China's shale gas reserves are buried deeper, more scattered and in more mountainous terrain than in the United States, making them more costly to develop, but domestic gas is a major focus as the country looks to ease its reliance on dirtier coal. Reuters interviewed Chinese oil majors, local equipment and service companies and global firms involved in China's fracking industry to compile the following industry breakdown.
While China’s move to create a national pipeline giant has taken center stage, investors should focus further out on how that clears a hurdle for Sinopec to spinoff its retail business, a move that may boost the oil giant’s valuation. The listing of the marketing unit by the refining behemoth, officially known as China Petroleum & Chemical Corp., has been awaiting the shift of its oil and fuel pipelines into the new national operator, according to China International Capital Corp. and Sanford C. Bernstein & Co. That’s why the pipeline reform may give further impetus for shares of the company to extend a 30 percent rally this year. To read more about China’s plans for a national pipeline company, click here.
China’s plans to create a pipeline giant to aid development of its natural gas market are overdue, and welcome. The state-owned champion, provisionally dubbed China Pipelines Corp., will combine the pipeline divisions of state-owned PetroChina Co., China Petroleum & Chemical Corp. or Sinopec, and Cnooc Ltd. A mooted market capitalization of as much as 500 billion yuan ($78 billion) would make it the world’s largest pipeline operator on that measure, comfortably outstripping Enterprise Product Partners LP at $64 billion. There’s much to like in that plan, given the way the current setup has helped stymie China’s drive to increase the role of gas in its domestic energy mix.
Six Flags Entertainment, Thomson Reuters, Toyota Motor, China Petroleum & Chemical and Merck highlighted as Zacks Bull and Bear of the Day
Chevron's (CVX) South African assets including 800 Caltex service stations and a 100,000-barrel per day refinery are up for sale.
The Zacks Analyst Blog Highlights: Momo, Baidu, China Petroleum & Chemical and Hollysys Automation Technologies
A booming manufacturing sector even as overcapacity is curbed has helped China in maintaining a steady rate of growth. Robust demand for Chinese goods abroad have also boosted the country's fortunes.
Glencore Plc is close to a $1 billion deal to buy Chevron Corp.’s southern African assets, potentially scuppering an earlier agreement with China Petroleum & Chemical Corp., according to three people familiar with the matter. The assets include a 100,000 barrel-a-day refinery in Cape Town and more than 800 gas stations in South Africa and neighboring Botswana. Chevron agreed last year to sell its 75 percent holding in the southern African business to the Chinese group known as Sinopec.
May 2 (Reuters) - Shandong Polymer Biochemicals: * SAYS IT SIGNS STRATEGIC COOPERATION AGREEMENT WITH CHINA PETROLEUM & CHEMICAL'S GOODS AND EQUIPMENT DEPARTMENT Source text in Chinese: https://bit.ly/2KrqarQ ...
China will set up an international free trade zone and port on the island of Hainan, state radio said on Friday, citing President Xi Jinping, granting foreign firms greater economic freedom in the southernmost province. The announcement came on Hainan's 30th anniversary as a province. Originally administered as part of nearby Guangdong on the mainland, the South China Sea island was given province status in 1988 and was declared the country's fifth special economic zone as part of former leader Deng Xiaoping's opening up of China.
In a volatile week for U.S.-China relations, China stocks trading on U.S. markets predictably posted mixed results.
Buckeye Partners (BPL) is anticipated to expand storage capacity of its Chicago complex to meet the demand of its customers.
The Zacks Analyst Blog Highlights: Autohome, Kingdee International Software Group, China Petroleum & Chemical, Yanzhou Coal Mining and PetroChina
Sinopec (SNP) is going to build LNG receiving facilities, leading to an increase in the company's capacity to around 26 million tonnes per annum from its present capacity of 9 million tones.
China Petroleum & Chemical Corp. will pay a record-high dividend as its massive fuels and chemical segments helped it post a nearly 10 percent increase in full-year profit. Bloomberg's Aibing Guo reports ...
March 25 (Reuters) - China Petroleum & Chemical Corp : * SAYS 2017 NET PROFIT UP 10.1 PERCENT Y/Y Source text in Chinese: https://bit.ly/2G767wo Further company coverage: (Reporting by Hong Kong newsroom)...
China's Sinopec Corp got a major boost in its pursuit of Chevron's South Africa and Botswana assets after South Africa's Competition Tribunal approved, with conditions, the $900 million (652 million pounds) transaction on Friday. State-owned Sinopec was competing for the assets against commodities trader and miner Glencore, which swooped in last October with a $973 million bid following delays to Sinopec's original agreement. The transaction is subject to Sinopec investing 6 billion rand (365 million pounds) over five years to develop a refinery in South Africa's Western Cape, over and above Chevron's current investment plans, the Tribunal said in a statement.