Дорогие друзья! Больше трех лет я рассказываю вам об основных новостях, событиях, трендах на мировом рынке нефти и газа. Я делаю это бесплатно и без рекламы. Поэтому я прошу вас о помощи. Wognews нуждается в развитии. Вас больше 20 000 человек из более чем 80 стран мира. Если каждый пожертвует небольшую сумму денег, 500 или 1000 рублей, или больше, wognews станет лучше. Спасибо, Владимир Виноградов, основатель wognews.

Dear friends! For more than three years I've been telling you about the main news, events, trends in the world oil and gas market. I do it for free and without advertising. Therefore I ask you for help. Wognews needs development. You are more than 20 000 people from more than 80 countries. If each donate a small amount of money, $10, $20, $30 or more, wognews will become better. Thank you, Vladimir Vinogradov, the founder of wognews.
2014-08-19 18:30:00

SINOPEC SALE $16 BLN

SINOPEC SALE $16 BLN

Canadian retailer Alimentation Couche-Tard Inc (ATDb.TO) and China's Tencent Holdings Ltd (0700.HK) are among suitors short-listed to buy a $16 billion minority stake in China's Sinopec Sales, the world's largest fuel retail network, people familiar with the matter told Reuters.

China Life Insurance Co Ltd (601628.SS), the nation's biggest insurer, Hong Kong-listed ENN Energy Holdings Ltd (2688.HK), privately-owned Fosun Group, Hopu Investment Management and Affinity Equity Partners have also progressed to the next round, said the people who declined to be identified as the sale process is confidential.

Formally known as China Petroleum & Chemical Corp (600028.SS), state-run Sinopec plans to sell up to 30 percent of Sinopec Sales by end-2014 as Beijing restructures government-owned assets. Sinopec Sales booked a net profit of 25.1 billion yuan ($4.1 billion) in 2013 from over 30,000 service stations and more than 23,000 convenience stores.

While a deal would give investors little control over the company, a likely exit through an initial public offering planned within three years has attracted a wide range of suitors, the people said.

The company also wants to boost non-fuel sales and is seeking investors to get into businesses such as car services, telematics, online-to-offline sales, financial services and Sinopec Sales generated 1.49 trillion yuan in revenue in 2013, but contribution of non-fuel sales was less than 1 percent of the total. In the United States, for example, non-fuel retail sales accounts for about half the profit for gas stations.

Sinopec, ENN, Affinity, Tencent, China Life and Fosun all declined to comment about the bidding process.

Couche-Tard CFO Raymond Paré also declined to comment and New Hope and did not reply to emails seeking response. Hopu could not be reached for an immediate comment.

Final bids are due by end-August, though it was not clear how many shortlisted bidders are likely to make offers. Couche-Tard and ENN are both bidding solo, as is privately owned Chinese investment company New Hope Group, the people said.

Local companies, however, are likely to be given priority as per the government policy to share the "dividend" of China's economic growth, Sinopec chairman Fu Chengyu has said.

Financial investors, like Affinity, Hopu and China Life would be interested in Sinopec Sales because of its stable yields, which Barclays estimates between 3-4 percent.

Couche-Tard, which operates more than 6,000 convenience stores throughout North America, also runs about 4,200 stores under the Circle K brand in China, Japan, Mexico, Vietnam and other countries.

Tencent Holding is China's largest listed Internet company and a successful deal will give it access to Sinopec's fuel payments network.

BIG DEAL

The planned divestment comes at a time when Sinopec's domestic fuel sales growth rate has slowed due to falling demand. Gross margins shrank to 2.3 percent in 2013 from 3.3 percent in 2011 and Barclays said in a report that a $1 fall in fuel margin from the current high level of $15-16 per barrel could lower Sinopec Sales net profit by 16 percent.

The sale is expected to generate between $16-20 billion for Sinopec, money which Asia's biggest refiner may use to pay down some of its debt and to reinforce upstream investments. If successful, the sale would mark Asia's second-biggest M&A trade this year, after CITIC Pacific's (0267.HK) $36 billion purchase of its parent CITIC Group's assets.

The deal is set to value Sinopec Sales at between $53-66 billion, giving it a price-to-earnings multiple of 13-16.3, according to Reuters calculations.

Sinopec unveiled plans in February to restructure the business, which also includes oil-products pipelines and storage facilities across China.

reuters.com

Tags: SINOPEC, CHINA, FUEL, OIL, GAS

Chronicle:

SINOPEC SALE $16 BLN
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

SINOPEC SALE $16 BLN
September, 22, 08:45:00

IRAN'S GAS EXPORT: ABOVE 5 BCM

Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.

SINOPEC SALE $16 BLN
September, 22, 08:40:00

IRAQI OIL TO U.S.

Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.

SINOPEC SALE $16 BLN
September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

All Publications »
Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
SURGUTNEFTEGAZ 0.000.00
TATNEFT0.00 0.00