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  1. Business - Commodities - ENERGY

    China scrambles to boost oil output

    Posted Oct 31st 2013, 02:57am by Reuters

    ... Reuters Oil giants led by Sinopec invest heavily overseas as consumption rises and domestic fields age China scrambles to boost oil output The mainland's biggest state-owned oil ... their costs. PetroChina, Sinopec and CNOOC produced more oil and gas in the first nine months of this year, they said in the past week. That was partly in response to the government's recent rise ...

  2. 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 ...

  3. 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, ...

  4. Reshuffle puts CNOOC chairman into top slot at oil refiner Sinopec

    Posted Apr 09th 2011, 12:00am

    ... Daniel Ren in Shanghai Fu Chengyu, the man behind China's most prominent overseas acquisition attempt, will take the helm of China Petroleum & Chemical Corp (Sinopec) as Beijing reshuffles managers at the mainland's largest oil companies. Fu, 60, chairman of CNOOC, the nation's dominant offshore oil and gas producer, has been appointed chairman of Sinopec, a CNOOC ...

  5. Business - Money

    Market Open:Hong Kong stocks seen flat; retail stocks in focus

    Posted Oct 04th 2012, 07:57am by Jeanny Yu

    ... PetroChina (0857.HK), CNOOC (0883.HK), Sinopec (0386.HK) The US crude output climbed to the highest level in more than 15 years, the US government reported Wednesday. Brent November crude futures ...

  6. Business - Commodities - ENERGY

    Analysts say China's oil majors set to unveil falling profits

    Posted Mar 18th 2013, 12:00am by Eric Ng

    ... of a 6 per cent decline in net profit to 125 billion yuan (HK$156 billion). For the second-largest producer, China Petroleum & Chemical (Sinopec), which is due to report on Sunday, the analysts ... year would boost its output this year by about 20 per cent and its proven reserves by 30 per cent. The US brokerage Sanford C. Bernstein estimated in a research report that Sinopec ...

  7. Business - Commodities - ACQUISITIONS

    China oil giants change focus after spending spree

    Posted May 12th 2014, 02:58am by Eric Ng

    ... digesting Nexen and stretched balance sheets of PetroChina and Sinopec." In the first four months of this year, just US$2 billion worth of deals were recorded. According to Thomson Reuters, ... primarily Nexen- had a net loss of 722 million yuan. The national oil companies plan to focus more on generating returns Standard Chartered analysts China Petrochemical Corp (Sinopec) appeared ...


    Posted Apr 03rd 2005, 12:00am by Staff Reporter

    ... Sinopec to second and CNOOC back to third, each with an 'outperform' recommendation. The target price on PetroChina is $6.60 (up 34 per cent from the price on March 16), Sinopec $4.60 (42 per cent) and CNOOC $5.10 (15 per cent). PetroChina and Sinopec are set to benefit not only from higher oil prices but modernisation of the economy and expanded consumption of refined ...

  9. Business - Commodities - DISPOSALS

    Gain from Bridas exit proves tough task for CNOOC

    Posted Apr 08th 2014, 01:08am by ERIC NG AND BLOOMBERG

    ... whose net debt-equity ratio is not high." CNOOC had a net debt-equity ratio of 27 per cent, lower than fellow state-backed PetroChina's 39 per cent and Sinopec's 44 per cent. ...

  10. CNOOC to bear the brunt of oil windfall tax

    Posted Apr 05th 2006, 12:00am by Eric Ng

    ... Eric Ng The mainland's new oil industry windfall tax is expected to hurt offshore producer CNOOC the most, as PetroChina and China Petroleum & Chemical Corp (Sinopec) will be able ... and downstream refiners, and between producers and consumers. 'Overall, it will be neutral to moderately positive for PetroChina, positive for Sinopec and negative for CNOOC,' said UOB Kay Hian ...




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