00386 SINOPEC CORP
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SINOPEC CORP News
Recently, the case of Wu Canqi, former deputy general manager of the natural gas branch of China Petroleum & Chemical Group Co., Ltd., was investigated and handed over to the procuratorial authorities for examination and prosecution by the Chaoyang Munici
Recently, the case of Wu Canqi, former deputy general manager of the natural gas branch of China Petroleum & Chemical Group Co., Ltd., was investigated and handed over to the procuratorial authorities for examination and prosecution by the Chaoyang Municipal Supervisory Commission of Liaoning Province. The Chaoyang Municipal People's Procuratorate has designated the jurisdiction of the People's Procuratorate of Liaoning Province to file a public complaint with the Chaoyang Intermediate People's Court in accordance with law. At the stage of examining the indictment, the procuratorial office informed the defendant Wu Canqi of his procedural rights in accordance with the law and questioned the defendant and listened to the opinions of his defense in accordance with the law. Chaoyang Municipal People's Procuratorate charges: Defendant Wu Canqi used his position as Deputy General Manager of Shandong Shihua Natural Gas Co., Ltd., China Petroleum & Chemical Group Co., Ltd.
Express News | Goldman Sachs expects OPEC+ to reduce supply over a longer period of time
[Crude oil market closing] The decline in US crude oil inventories far exceeded expectations for the rise in oil prices
Oil prices rose slightly on Wednesday (May 8), after US oil storage data showed that crude oil inventories declined more than expected as refineries increased production before the summer driving season arrived.
WTI crude oil once fell below 77! KITU Macro: Some geo-risk premiums have been lifted
Economists at KITU Macro said that part of the risk premium for the Iran-Israel conflict has now been lifted, and OPEC+ may gradually eliminate production cuts starting in July.
Hong Kong oil and gas stocks rose. CNPC shares and CNOOC both rose more than 1%, and China Petroleum & Chemical Corp. rose 0.83%.
Hong Kong oil and gas stocks rose. CNPC shares and CNOOC both rose more than 1%, and China Petroleum & Chemical Corp. rose 0.83%.
Direct impact of changes | Petroleum stocks are generally on the rise, OPEC+ production cuts are expected to support oil prices, and Saudi Aramco will raise the price of crude oil in Asia
The Zhitong Finance App learned that petroleum stocks generally rose. As of press release, CNOOC (02883) rose 3.01% to HK$8.56; CNPC (00857) rose 2.35% to HK$7.41; Sinopec (00386) rose 1.87% to HK$4.9; and CNOOC (00883) rose 1.41% to HK$20.1. According to the news, oil prices fell sharply on Tuesday, and US API inventories continued to exceed expectations, marginally weakening oil prices. Xingzheng Futures believes that the current oil price has returned to a reasonable range after the geographical premium has gradually declined, and production reduction policies are still being maintained in OPEC+
The US restarts the reserve replenishment program, and is Biden ready to deal with soaring oil prices at any time?
Biden restarts the SPR supplement plan when oil prices fall. If oil prices rise before the election, Biden may release SPR again.
Changes in US dollar bonds | Sinopec Group SINOPE 3.35 05/13/50 prices fell 1.103% to 72.537
The current price of SINOPE 3.35 05/13/50 issued by Sinopec Group on May 8 fell -1.103% with a yield of 5.310%.
Could OPEC+ “open the door” to increase production? Russia's words make the oil market uneasy!
Russian Deputy Prime Minister Novak said that the possibility of increasing oil production under the OPEC+ agreement is being analyzed.
Market Chatter: Sinopec Negotiating With Pembina for LNG Offtake, Equity Purchase Deals
China Petroleum & Chemical Corp. (HKG:0386, SHA:600028) is negotiating with Canada's Pembina Pipeline for a liquefied natural gas offtake agreement and equity purchase in the Cedar LNG project, Reuters reported, citing two unnamed sources.
Express News | Sinopec and Total sign strategic cooperation framework agreement
Israel persists in its actions! How will “Operation Rafah” affect oil prices?
Analysts say everything depends on how the Houthis and other countries react to the Rafah incident.
Sinopec (600028): Stable and improved performance, Q1 chemical sector reduced losses month-on-month
Maintain the shareholding rating, maintain profit forecasts and target prices: We maintain the company's 2024-2025 EPS of 0.64/0.69 yuan, and add 2026 EPS of 0.73 yuan, taking into account the valuation of central enterprises
Changes in Hong Kong stocks 丨 International oil prices rebounded, and “three barrels of oil” bucked the trend
Glonghui, May 7 | International oil prices rebounded, driving the Hong Kong stock market's “three barrels of oil” against the trend. Among them, CNPC shares rose 1.82%, Sinopec rose 1.26%, and CNOOC rose 0.91%. Oil closed up 0.81% to $83.63, and today rose 0.3% to $83.58; U.S. oil closed up 0.74% to $78.69 overnight, and rose 0.36% to $78.76 today.
Major Bank Ratings | UBS: Giving Sinopec a “buy” rating and a target price of HK$6.6
Glonghui, May 7 | According to UBS, Sinopec's net profit for the first quarter fell 10% year-on-year to 18.7 billion yuan, but increased 3.4 times quarterly, in line with the forecast. According to the bank, Sinopec's sharp rise in net profit on a quarterly basis can be attributed to rising oil prices in the first quarter, which favoured exploration and extraction operations and promoted inventory appreciation in the refining sector; petrochemical product portfolio adjustments, reducing relatively low gross margin olefins, maintaining 100% utilization of aromatic hydrocarbon production capacity and increasing the high-value-added product portfolio; the marketing sector was also boosted by gasoline during the Chinese New Year holiday; the liquefied natural gas sector was also subject to taxation due to falling overseas natural gas prices; and the fourth quarter of last year's results were also taxed
Changes in US dollar bonds | Sinopec Group SINOPE 4.6 09/12/48 price fell 1.236% to 89.227
The current price of SINOPE 4.6 09/12/48, issued by Sinopec Group on May 6, fell -1.236% and yield 5.400%.
Does Saudi Arabia have an “iron heart” to support oil prices? Raising the official price in June, sales in Asia increased more than expected
① Saudi Aramco's statement on Sunday showed that Saudi Arabia raised the official selling price (OSP) of Arabian light crude oil in June; ② the price increase for Asia was raised for the third month in a row; ③ industry insiders pointed out that Saudi Arabia's current price increase highlights that Saudi Arabia is still trying to keep the crude oil market tight at a time when the risk of conflict in the Middle East subsides.
Big Bank Rating | Damo: Lowering Sinopec's Target Price to HK$5, Lowering Profit Forecast for FY2024-26
Glonghui, May 6 | Morgan Stanley published a research report stating that considering Sinopec's performance in the first quarter of fiscal year 2024, it was decided to reduce its net profit forecast for the 2024-2026 fiscal year by 4%, 7%, and 6%, respectively. It is mainly based on the bank's reduction in profit before interest and tax (EBIT) from Sinopec's exploration and production business to take into account the year-on-year decline in natural gas prices; and reducing EBIT in the refining sector to reflect the impact of high crude oil prices. It is anticipated that Sinopec's downstream business will continue to weaken, but at the same time, it is believed that related businesses have been digested by the market. Moreover, downstream capital expenditure has peaked, and the company is in the medium term or
Express News | Ministry of Finance: From January to March, the total revenue of state-owned and state-owned enterprises across the country increased by 3.2% year on year, and total profit increased 2.8% year on year.
Five consecutive drops! Oil prices fell 6% in a single week. Will the next two months be the key?
Standard Chartered Bank pointed out that May and June will be a critical period for whether petroleum fundamentals will be further tightened. At that time, inventories will decline at an accelerated pace, and global oil demand has reached a record high.
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