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2018-03-26 07:40:00

SINOPEC NET PROFIT RMB1.130 BLN

SINOPEC NET PROFIT RMB1.130 BLN

SINOPECSINOPEC Engineering (Group) Co., Ltd. ("SEG" or the "Company") announced its annual results for the twelve months period ended 31 December 2017 at a news conference in Hong Kong. Ling Yiqun, Vice President of Sinopec Group and Chairman of SEG, attended the conference.

For the year 2017, the Company’s revenue was RMB36.209 billion, its net profit was RMB1.130 billion; asset-liability ratios remained low and cash flow performance remained strong. The Board recommended a final dividend of RMB0.144 per Share for the year 2017. After taking into account the interim dividend of RMB0.056 per Share, the total dividend for the year will be RMB0.200 per Share, the annual payout ratio is 79%.

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Earlier:

 U.S. - CHINA LNG
2017, November, 9, 13:35:00

U.S. - CHINA LNG

China’s top state oil major Sinopec, one of the country’s top banks and its sovereign wealth fund have agreed to help develop Alaska’s liquefied natural gas sector as part of U.S. President Donald Trump’s visit, the U.S. government said on Thursday. The agreement will involve investment of up to $43 billion, create up to 12,000 U.S. jobs during construction, reduce the trade deficit between the United States and Asia by $10 billion a year, and give China clean energy.

 

 SINOPEC NET PROFIT UP TO 74%
2017, March, 27, 18:40:00

SINOPEC NET PROFIT UP TO 74%

The state-owned company, known as Sinopec Corp, saw fourth quarter net profit jump to 17.25 billion yuan from 9.9 billion yuan in the third quarter, it said in a statement to the Shanghai Stock Exchange.

 

 CHINA'S OIL&GAS REFORMS
2017, January, 13, 18:40:00

CHINA'S OIL&GAS REFORMS

SHARES of China National Petroleum Corp and Sinopec rebounded during the week on reforms that are set to transform the two oil and gas giants into more competitive and market-focused entities.

 

 CHINA'S SHALE GAS UP
2016, November, 7, 18:45:00

CHINA'S SHALE GAS UP

Sinopec Ltd. reported that Fuling shale gas field in southwestern China produced a cumulative 3.76 billion cu m of gas from January to September. The 107% increase in production was accompanied by additional processing capacity of 5.5-6.5 bcm, the company said. In 2014, Sinopec announced plans to bring production capacity to 10 bcm/year by 2017.

 

 SINOPEC NET PROFIT DOWN 21.6%
2016, August, 31, 18:35:00

SINOPEC NET PROFIT DOWN 21.6%

China Petroleum and Chemical Corporation (Sinopec) has reported a 21.6% drop in net profit for the six months that ended on June 30 as international oil and natural gas prices remained low.

 

 REPSOL VS SINOPEC: $5.5 BLN
2016, June, 22, 18:00:00

REPSOL VS SINOPEC: $5.5 BLN

The claim relates to a U.K. joint venture between the Chinese and a Canadian firm which the Spanish oil producer acquired last year.

 

 SAUDI PROTECT THEIR MARKET
2015, December, 16, 19:50:00

SAUDI PROTECT THEIR MARKET

Saudi Aramco, the kingdom's state oil giant, is seeking to borrow $4.7 billion from banks to refinance capital used to build a refinery in collaboration with China's Sinopec, three sources with knowledge of the matter said on Tuesday.

Tags: CHINA, SINOPEC, FINANCE

Chronicle:

SINOPEC NET PROFIT RMB1.130 BLN
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

SINOPEC NET PROFIT RMB1.130 BLN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

SINOPEC NET PROFIT RMB1.130 BLN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

SINOPEC NET PROFIT RMB1.130 BLN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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