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  1. Stimulus slows fall in earnings at state firms

    Posted Sep 19th 2009, 12:00am by Martin Zhou

    ... powerhouses such as Sinopec and China Mobile, saw a below-average 13.8 per cent year-on-year decline in profit, totalling 630.1 billion yuan, in the first eight months. It was a better performance ...

  2. Sinopec unit slows work on 2 projects

    Posted Mar 09th 2009, 12:00am by Eric Ng

    ... Eric Ng in Beijing Sinopec Shanghai Petrochemical, which runs the second-largest refinery of its parent, China Petroleum & Chemical Corp (Sinopec), has slowed down construction of two ... of the company's products fell over 60 per cent year-on-year in the fourth quarter. Sinopec Shanghai reported a net loss of 2.64 billion yuan (HK$3 billion) in the first nine months of last year despite ...

  3. CNOOC holds to output target for full year

    Posted Apr 30th 2009, 12:00am by Eric Ng

    ... project in the South China Sea, it will be a key driver of CNOOC's output growth target of 6 to 10 per cent between 2011 and 2015. Meanwhile, China Petroleum & Chemical (Sinopec) chief ... in the division's operating profit. He also said Sinopec has maintained its gas output target for this year at 10 billion cubic metres, despite achieving only 19.8 per cent of the target in the first ...

  4. Sinopec fuel sales soar but diesel output dips

    Posted Jul 22nd 2009, 12:00am by Eric Ng

    ... Eric Ng China Petroleum & Chemical Corp (Sinopec), Asia's largest oil refiner, posted a strong rebound in fuel sales in the second quarter. However, some other sales were flat, suggesting government measures to stimulate domestic demand are unable to fully offset the impact of export declines. Sinopec sold 31.28 million tonnes of refined fuel in the second quarter, up 18.37 ...

  5. Sinopec advances after analysts' bullish first-half profit forecasts

    Posted Jul 23rd 2009, 12:00am by Eric Ng

    ... Eric Ng China Petroleum & Chemical Corp (Sinopec), the country's second-largest producer of oil and gas and Asia's largest oil refiner, saw its share price rise as much ... per cent for the first six months of this year. The forecasts were made on Tuesday, when Sinopec announced operational data showing a marked improvement in refining throughput on higher fuel ...

  6. Analysts cut Sinopec forecasts after profit warning

    Posted Feb 12th 2009, 12:00am by Eric Ng

    ... Eric Ng China Petroleum & Chemical Corp (Sinopec) has its earnings forecast cut by analysts who expect the refining giant's petrochemical operation to be hit harder than forecast. CLSA cut its profit forecast on Monday, the second time in just over two weeks, after meeting Sinopec's management last Friday. Gordon Kwan, the investment bank's head of China oil ...

  7. Sinopec net falls 47.3pc but earnings leap forecast

    Posted Mar 30th 2009, 12:00am by Eric Ng

    ... China Petroleum & Chemical Corp (Sinopec), the country's second-largest oil and gas producer, expects its first-quarter net profit to surge more than 50 per cent as it unveiled ... the main profit source of the company again,' Sinopec said. Net profit for last year was 29.77 billion yuan (HK$33.77 billion), down 47.3 per cent from 56.53 billion yuan in 2007, but 26.5 per ...

  8. Sinopec to spend 120b yuan a year on growth

    Posted Aug 25th 2009, 12:00am by Eric Ng

    ... Eric Ng China Petroleum & Chemical Corp (Sinopec) plans to spend 120 billion yuan (HK$136.15 billion) annually between this year and 2011 to bolster output capacity and is mulling ... the production plans of the major Puguang gas field in Sichuan province and construction of a pipeline to Shanghai. This caused Sinopec to revise down this year's gas output target, unveiled ...

  9. Sinopec unveils huge expansion programme

    Posted Sep 29th 2009, 12:00am by Eric Ng

    ... Eric Ng in Nanjing China Petroleum & Chemical Corp (Sinopec) yesterday said it would spend billions of yuan to expand facilities and build new ones, including a 53 billion yuan ... in Zhanjiang. It will be able to process 15 million tonnes of crude oil per year and produce one million tonnes of ethylene, in addition to a range of downstream chemicals. A spokesman for Sinopec ...

  10. Sinopec, Chalco, China Railway warn of 50pc profit declines

    Posted Jan 23rd 2009, 12:00am by Carol Chan, Eric Ng, Toh Han Shih

    ... Eric Ng, Toh Han Shih and Carol Chan Leading state-owned enterprises China Petroleum & Chemical Corp (Sinopec), Aluminum Corp of China (Chalco) and China Railway Group are warning of a more than 50 per cent drop in their net profits for last year, when they release detailed earnings later. The news is expected to prompt analysts to revise their profit forecasts. Sinopec ...




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