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  1. Sinopec and parent mull assets listings

    Posted Oct 05th 2011, 12:00am

    ... Eric Ng eric.mpng@scmp.com China Petroleum & Chemical (Sinopec) and its parent, China Petrochemical Corporation, are considering separate listings of their assets, a move they hope will unlock billions of US dollars in shareholder value. A Sinopec spokesman said the company was evaluating different options to restructure its businesses, as it believed some of its assets could ...

  2. Sinopec surprises with 41b yuan first-half profit

    Posted Aug 30th 2011, 12:00am

    ... Eric Ng eric.mpng@scmp.com China Petroleum & Chemical (Sinopec), the nation's second-largest oil and gas producer and the world's second-largest oil refiner, plans ... development.' Although Sinopec recorded 12.17 billion yuan (HK$14.8 billion) of first-half operating loss on refining, compared with a profit of 5.7 billion yuan in the corresponding period last year, ...

  3. Sinopec bonds to raise 50b yuan to fund projects

    Posted Aug 29th 2011, 12:00am

    ... Denise Tsang Sinopec Corp, whose profits rose 11.9 per cent to 41.17 billion yuan (HK$50 billion) in the first half, said it planned to sell 50 billion yuan in domestic corporate and convertible bonds. Issued on the mainland, they will fund construction of its liquefied natural gas project in Shandong and upgrade several oil refinery projects. ...

  4. Production keeps Sinopec in profit

    Posted Sep 01st 2011, 12:00am

    ... Eric Ng eric.mpng@scmp.com Sinopec Shanghai Petrochemical, which runs the second-largest oil refinery of China Petroleum & Chemical (Sinopec), says it remains profitable overall ... transformation process. 1.43b yuan Sinopec's net profit declined 5.8 per cent in the first half to this amount, in yuan ...

  5. Rolls-Royce to provide Sinopec seismic ship

    Posted Feb 18th 2011, 12:00am by Keith Wallis

    ... China Petroleum & Chemical Corp (Sinopec) has awarded Rolls-Royce a GBP20 million (HK$252 million) contract to design and equip a specialist seismic research ship to carry out detailed surveys of the seabed to identify oil and gas reserves. The ship, a UT830CD, will be built by Shanghai Shipyard for Sinopec offshoot Shanghai Offshore Petroleum Geophysical Corp with delivery ...

  6. Sinopec rapped over online drive to get backing for higher fuel prices

    Posted Feb 15th 2011, 12:00am by Raymond Li

    ... China Petrochemical Corp (Sinopec) has come under fire for trying to manipulate online opinion in favour of fuel price increases amid rising world oil prices. A Sinopec notice made public ... and media commentators have reacted indignantly to Sinopec's manipulation of public opinion through online commentators known as '50-cent parties' - people hired by the government ...

  7. Sinopec plans to boost output

    Posted Mar 28th 2011, 12:00am by Eric Ng

    ... China Petroleum & Chemical Corp (Sinopec), Asia's largest crude oil refiner, unveiled a plan to increase this year's spending to enhance production capacity by 9.2 per cent, after posting an annual profit in line with expectation. Sinopec has budgeted capital expenditure of 124 billion yuan (HK$147 billion) this year, up from 113.7 billion yuan in 2009. The increase ...

  8. Sinopec booze scandal spurs 'self-correction' order from top

    Posted Apr 22nd 2011, 12:00am

    ... Mimi Lau in Guangzhou Sinopec chairman Fu Chengyu has ordered staff to put themselves through 'self-examination' and 'self-correction'- conventional Communist Party ... on Wednesday that it bore important political, social and economic responsibilities. 'Sinopec needs to be accountable to the country, people and society as a whole,' a Xinhua report quoted Fu ...

  9. Sinopec manager has job put on ice over drinks bill

    Posted Apr 16th 2011, 12:00am

    ... Zhuang Pinghui A senior executive of Sinopec, China's biggest supplier of petrol, has been suspended from duty after the company spent more than one million yuan on vintage wine ... in China and the oil giant's extremely large profits have long been a favourite source of complaint among internet users. Sinopec said in a statement on Thursday that it had sent a team ...

  10. Sinopec posts 24.5pc rise in net profit

    Posted Apr 29th 2011, 12:00am

    ... Eric Ng China Petroleum & Chemical (Sinopec), the nation's second largest oil and gas producer, posted a 24.5 per cent year-on-year rise in first-quarter net profit to 20.5 billion yuan (HK$24.4 billion). The profit growth was mostly due to a 19.4 per cent increase in the average oil price to around US$86.80 a barrel, though output fell 5.8 per cent year on year ...




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