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CEO is more straightforward -- also a good buy (in my opinion) -- CEO doesn't have the refining issues or the Sudan issues of Sinopec. Sinopec is selling at a slightly lower market capitalization than CEO currently -- unusual for an integrated oil major to sell at approximately $80Bn that is ranked #22 on Forbes Global ranking of the world's 500 largest companies.
May 28 13:41 pm
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All Comments by Randy Kirk »Sinopec: Potential for Growth [View article]
The relatively low market capitalization of Sinopec is I believe is mainly due to three issues
1. Refining division -- this is currently losing money, although how much and what sort of subsidies and future price increases in the price of petrol within China is a point of debate
2. Sudan divestment -- PetroChina is much more active in Sudan than Sinopec, (any activity there could be construed as a legitimate reason to sell however) and most funds and endowments which have divested PetroChina due to the Sudan have also divested Sinopec.
3. International oil community resentment of Sinopec -- Sinopec has been very aggressive in bidding for international oil projects, which has driven up the price of oil projects for all oil majors -- this has led to a negative attitude in general towards SNP by oil majors and western oil publications.