All publications by tag «SINOPEC»
China’s three state-owned oil companies are boosting domestic and overseas investment with the aim of increasing crude oil and natural gas output.
REUTERS - China’s Sinopec Corp has teamed with Zhejiang Energy Group Co Ltd on a 3 million tonne-per-year liquefied natural gas (LNG) terminal in east China, with the first phase set for operation at end-2021, the state oil giant said
REUTERS - In a statement to the Shanghai Stock Exchange, Sinopec said it had allocated 117 billion yuan of capital expenditure for 2018, up from an actual spend of 99.38 billion yuan last year. That includes a 55 percent hike in upstream spending to 48.5 billion yuan, as China’s biggest refiner looks to make the most of a rally in oil prices since early February to over $70 a barrel.
SINOPEC - 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%.
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.
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 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.
The claim relates to a U.K. joint venture between the Chinese and a Canadian firm which the Spanish oil producer acquired last year.
China, the world's top energy user, is keen to boost cleaner burning natural gas consumption to tackle air pollution.
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.