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LyondellBasell (LYB) and the China Petroleum & Chemical (Sinopec) (SNP) have signed an agreement to form a 50:50 joint venture ((JV)) which will produce propylene oxide ((PO)) and styrene monomer ((SM)) in China's domestic market. The JV will operate under the name Ningbo ZRCC L...
While the long-term future for energy stocks look uncertain as the world warms to clean energy, a short-term recovery from the COVID-19 pandemic global recession is expected to be driven by the still oil and gas dependent industrial sector. Because most governments are now focused on regainin...
Sinopec offers a consensus forward FY 2020 dividend yield of 6.4% with special dividends expected in 2H 2020 thanks to the pipeline asset divestment, but potential asset write-downs could complicate matters. The inclusion of CNOOC on a list of companies linked to the Chinese mili...
SNP has rallied 29% in less than three months, but it is still cheaply valued. The stock is trading at a forward price-to-earnings ratio of only 7.8. In contrast to the well-known oil majors, which posted losses in 2020, SNP posted a material profit, thanks to the strong recovery ...
CNOOC (CEO) -2.1% pre-market as Chinese oil majors are seen at risk to be the next firms delisted in the U.S. after the New York Stock Exchange said it would remove China's three biggest telecom companies.The NYSE says China Mobile (CHL), China Telecom (CHA) and China Unicom Hong Kong (CHU) w...
Sinopec's Fixed-point Poverty Alleviation and Pairing Program Lifts Eight Counties Out of Poverty in Response to UN Sustainable Development Goals BEIJING , Dec. 2, 2020 /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has announced that D...
Suncor Energy (SU), owner of a 58.7% stake in the Syncrude joint venture, says it has reached agreement in principle with the other owners to take over as operator of the project by year-end 2021; shares +3.5% pre-market.The other Syncrude stakeholders who still must formally approve the...
Sinopec kickstarts extensive research on CO2 emissions peak and carbon neutral PR Newswire BEIJING, Nov. 24, 2020 BEIJING , Nov. 24, 2020 /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has established strategic cooperation ...
Royal Dutch Shell (RDS.A) +3.4% pre-market following a Bloomberg report that it acquired full control of one of its gas station joint ventures in China.Shell has agreed to pay ~1B yuan ($149M) for 51% of the in Chongqing Doyen Shell Petroleum and Chemical joint venture it did not already own,...
The refining business was the bright spot for Sinopec in 3Q 2020, as the segment registered an operating profit of RMB31.5 billion as compared to operating losses in 1H 2020. Sinopec generated RMB38.8 billion in investment income from pipeline asset sales; it is positive that the deal...
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Sinopec Achieved Solid 2023 Operating Results Focus on Shareholders' Returns, Dividend Payout Exceeded 70% BEIJING, CHINA) / ACCESSWIRE / March 24, 2024 / China Petroleum & Chemical Corporation ("Sinopec Corp." or the "Company") (HKEX:386)(SSE: 600028) today announced its annual res...
Recon Technology Secures US$3 Million in Contracts with Newly Developed Customer for Electronic Components and Materials PR Newswire BEIJING , March 11, 2024 /PRNewswire/ -- Recon Technology Ltd ("Recon" or the "Company"), a China -based provider of oilfield ...
NEW YORK, NY / ACCESSWIRE / December 8, 2023 / China Petroleum & Chemical Corporation ("Sinopec Corp." or the "Company") (HKEX:00386)(SSE:600028) announced today that the Company intends to deregister with the United States Securities and Exchange Commission (the "SEC") and terminate its rep...