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  • Dec 29, 2014
  • Updated: 12:23pm

China Petrochemical Corporation

Sinopec Engineering vows to maintain high margins

Cai Xiyou, chairman of Sinopec Engineering, at the firm's listing ceremony in Hong Kong. Photo: May Tse

Despite rising cost pressures, Sinopec Engineering, the oil refining and chemical plants engineering subsidiary of China Petrochemical Corp, will strive to maintain a gross profit margin higher than the industry average, its chief said.

Friday, 24 May, 2013, 3:47am

Business Digest, December 19, 2012

Toyota to pay record fine for safety delay

Deutsche Securities fined HK$2.5m by SFC

19 Dec 2012 - 2:37am

China oil major's Africa purchase to raise its expertise

China Petrochemical Corp, the parent of listed China Petroleum & Chemical (Sinopec), has clinched a US$2.46 billion deal to buy French oil major Total's 20 per cent stake in an oil field in West Africa, adding to its portfolio of overseas assets worth over US$35 billion.

21 Nov 2012 - 1:56am

China Petrochemical targets Maurel & Prom

China Petrochemical targets Maurel & Prom

China Petrochemical Corp, the nation's second biggest oil producer and the largest oil refiner, is reportedly sizing up Africa- and Latin America-focused French mid-size oil and gas producer Maurel & Prom as a potential acquisition target.

2 Nov 2012 - 5:30am

Days numbered for monopoly of state firms

Seven years after Beijing said in a policy circular it would make it easier for private enterprises to enter industries cornered by state-owned giants, little progress has been achieved.

5 Apr 2012 - 12:00am

Reforms to make SOEs world class, Li says

The mainland's state-owned enterprises would be among the world's best companies in seven to 10 years, Li Rongrong said yesterday in his first public appearance since retiring as the head of the country's SOEs last month.

15 Sep 2010 - 12:00am

Sinopec Finance to sell 4b yuan bond

Sinopec Finance, jointly owned by China Petroleum & Chemical Corp (Sinopec) and parent China Petrochemical Corp, plans to raise four billion yuan from a corporate bond sale to fund the group's expansion.

16 Oct 2007 - 12:00am

Mainland oil giants plan spin-offs

Three largest companies seek to list their construction and engineering units

China's three largest oil companies, China National Petroleum Corp, China Petrochemical Corp and China National Offshore Oil Corp, are planning to spin off their construction and engineering units in deals that could raise as much as US$3 billion each, sources said.

7 May 2007 - 12:00am

Sinopec to revive convertible bonds

Oil refiner reschedules US$2b sale for later this year as equity markets improve

China Petroleum and Chemical Corp (Sinopec), the largest oil refiner in Asia, later this year plans to revive its up to US$2 billion convertible bond sale that was put on ice after Hong Kong's equity markets plunged last month, market sources said.

19 Mar 2007 - 12:00am

Sinopec plans 10.5b yuan repurchase of stakes

China Petrochemical Corp (Sinopec Group) has agreed to spend more than 10.5 billion yuan to buy back non-tradable stakes in its flagship subsidiary Sinopec from three companies before launching the reform of the unit's A shares, according to sources.

26 Aug 2006 - 12:00am

Sinochem plans refining base

State-owned firm signs deal to build petrochemical base in Zhoushan, in effort to boost upstream business

Sinochem Corp, a state-owned oil and chemical products trading and logistics major, plans to build a large-scale oil refinery as part of efforts to beef up its upstream manufacturing business.

28 Jun 2006 - 12:00am

Business Digest

hisense takes controlling stake in guangdong kelon

Hisense Group will buy a controlling 26.43 per cent stake in Guangdong Kelon Electrical Holdings previously held by disgraced former chairman Gu Chujun, Kelon announced yesterday.

16 Sep 2005 - 12:00am

INDEPENDENT MOVE

China Petroleum & Chemical (Sinopec) - China's second largest oil producer - has proposed to appoint four independent directors in March, up from three, in an effort to enhance corporate governance.

23 Jan 2003 - 12:00am

Improved operations help lift Sinopec

Standard & Poor's has raised the foreign currency corporate credit rating of China Petroleum & Chemical (Sinopec) from BBB minus to BBB, citing an improvement in operations and an increase in oil and gas reserves.

But the rating agency said a significantly lower oil price in the second half of this year would put pressure on the H share's bottom line.

21 Dec 2001 - 12:00am

More control for petrochemical firm

H-share Shanghai Petrochemical will gain extra revenues of up to 600,000 yuan (about HK$556,800) a year for taking over the management of six subsidiaries of its parent company for the next three years. The contract is expected to begin next month.

The six firms were originally controlled by Sinopec Jinshan Industrial, which was dissolved in August.

27 Oct 1997 - 12:00am