600028 China Petroleum & Chemical Corporation
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China Petroleum & Chemical Corporation News
Business Association: Crude oil fell during the cycle, retail prices of domestic refined oil products fell “two consecutive declines”
The price adjustment window for this round of domestic refined oil products will open at 24:00 on May 15, and the retail price of refined oil products will soon be lowered. In 2024, the retail price of refined oil products has gone through five increases and two drops, and the crude oil market declined during the cycle, and the negative rate of change increased. The retail price adjustment for refined oil products will be lowered for the third time in 2024.
Express News | CICC: In the medium to long term, the opportunities outweigh the risks in the medium to long term, and may still be dominated by structural opportunities in the short term
OPEC+ opens rip mode, and “old scars” are once again unraveled
OPEC+ reopens the dispute, and discussions about the oil production capacity of its products OPEC+ once again faced a difficult problem: how much oil can actually be absorbed by its products. This issue poses a risk to the organization's efforts to stabilize the world market.
Express News | OPEC maintains global oil demand forecast for this year and next
OPEC+ is arguing again! “Old scars” have been revealed again
On Tuesday, according to foreign media reports, OPEC+ reopened a heated debate on the ability of member states to produce oil, raising concerns about the further breakdown of unity in the alliance. The US and Burma have plummeted in the intraday market when they heard the news, and have now largely recovered all of the declines caused by the news.
Also, I saw that the finance company “sold” Guangfa Bank shares. Minmetals Finance was directly discounted by 10% when listed for the second time, and Sinopec Finance still hasn't found a buyer
① Minmetals Finance's 604.113.15 million Guangfa Bank shares were re-listed and transferred. The reserve price was reduced to 564 million yuan, a 10% discount from the previous one. ② Sinopec Finance's public listing transfer of 367.21.52 million Guangfa Bank shares expired today, and no buyers have been found. ③ Regulations have forced finance companies to “sell off” financial institution shares, and central state-owned enterprises are all speeding up the sell-off of financial equity by removing non-main investments.
Changes in US dollar bonds | Sinopec Group SINOPE 3.68 08/08/49 prices fell by 1.325% to 76.912
The current price of SINOPE 3.68 08/08/49 issued by Sinopec Group on May 14 fell -1.325% with a yield of 5.361%.
Oil market alert! Demand for diesel is weak, and refineries cut production
The profit from diesel production at Asian refineries is close to the lowest level in a year. This has prompted refineries to reduce the amount of crude oil they process.
Sinopec Faces Margin Squeeze in Downstream Oil, Chemical Segment -- Market Talk
0303 GMT - Sinopec faces margin pressure in the downstream refined oil and chemical business, CCB International analyst Helen Lau writes in a research note. Sinopec reported weaker-than-expected 1Q ea
Major Bank Ratings | CCB International: Raising CNOOC and CNPC Target Prices and Lowering Sinopec Ratings to “Neutral”
Glonghui, May 14 | CCB International released a report saying that oil prices have been adjusted recently, but oil stocks have performed well. The stock prices of large oil stocks listed in Hong Kong rose by an average of 6% in April. Sinopec saw the biggest increase, with CNOOC and CNPC rising by 6% and 3%, respectively. According to the report, the outlook for crude oil prices is optimistic. It is still optimistic about the recovery in global demand, and it is expected that supply risks will continue. The bank predicts that the price of Brandt crude oil will rise 7%, 2%, and 2% from 2024 to 2026 to $88, $90 and $92 per barrel, respectively. The forecast was 6%, 13%, and 15% higher than the market forecast, respectively. Compared to last October
China Petroleum & Chemical Co., Ltd. (00386) will pay a final dividend of 0.2 yuan per share on July 26
According to the Zhitong Finance App, China Petroleum & Chemical Co., Ltd. (00386) announced that it will pay a final dividend of RMB 0.2 per share for the year ended December 31, 2023 on July 26, 2024.
China Petroleum & Chemical Corporation (00386): Wu Bo Resigns as Supervisor
According to the Zhitong Finance App, China Petroleum & Chemical Co., Ltd. (00386) issued an announcement that Wu Bo resigned as Sinopec supervisor due to job adjustments.
Express News | Sinopec: Supervisor Mr. Wu Bo Resigns
Shale oil giants are accused of manipulating oil prices! The US energy industry faces a series of class-action lawsuits
① The US shale oil industry is currently facing a series of lawsuits, accusing some of the biggest companies in the industry of colluding to limit production and maliciously raising oil prices; ② According to reports, companies such as ExxonMobil, Occidental Petroleum, and Diamondback Energy have been named in at least 10 class action lawsuits.
Iraq wants to expand crude oil reserves to 160 billion barrels and opposes continuing OPEC+ production cuts
① Beginning on Saturday, Iraq will hold its first oil and gas exploration project auction since 2018, with companies from China, Iraq, Arabia and Europe competing; ② Iraq hopes to drastically increase crude oil reserves and reduce its dependence on imported natural gas through this auction; ③ Iraq's Minister of Petroleum also made it clear that it will not continue to support extending production limits at the next OPEC+ meeting.
Research Report: CITIC Construction Investment: Sinopec's Q1 performance improved month-on-month, highlighting long-term investment value
Gelonghui, May 11 | CITIC Construction Investment Securities Research Report indicates that Sinopec (600028.SH)'s net profit for the first quarter was 18.3 billion yuan, -8.9% year-on-year and +144.3% month-on-month; Q1 closely followed market demand, carried out in-depth optimization and regional optimization of the entire industry chain, increased production and marketing coordination, strived to expand the market, and achieved good operating results. By sector: In 2024, Q1's exploration and development/refining/marketing and distribution sectors achieved profit before interest and tax of 148/69/8.7 billion yuan respectively, with year-on-year changes of +11.0%/-34.1%/+2.4%, respectively.
Sinopec (600028): Business volume continued to grow and Q1 performance improved month-on-month in '24
Core view Sinopec achieved operating income of 790 billion yuan in Q1 of 2024, -0.2% YoY, +6.4% month-on-month; realized net profit to mother of 18.3 billion yuan, -8.9% YoY, +144.3%; Actual
Institutions | The five most important issues in Hong Kong stocks
Looking ahead to the future market, we believe that the current round of gains in Hong Kong stocks is expected to continue, with the Hang Seng Technology Index gradually switching to a high-dividend sector. In the future, the pricing power for southbound capital is expected to increase dramatically, replacing the style where foreign capital dominates Hong Kong stocks. The main allocation of Hong Kong stocks this year is still the dividend sector, and the Science Network sector can focus on leading stocks that are improving.
The benefits are frequent! Hong Kong stocks with high dividend stocks have collectively exploded. What do you think of the subsequent market?
CICC believes that if the Hong Kong Stock Connect dividend tax relief is implemented, it is expected to further boost the enthusiasm of mainland investors to invest in Hong Kong stocks, especially in high-dividend-related sectors, boost sentiment in the short term, and help improve the liquidity of the Hong Kong stock market in the long term.
Hong Kong Stock Connect dividend tax exemption? Hong Kong high-interest concept stocks have gone crazy
Focus on dividend strategies
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