Thu, May 12, 11:01 AM
- via Jefferies in a recent note:
- "We believe PetroChina (NYSE:PTR) is now being squeezed. CNOOC (NYSE:CEO) and Sinopec (NYSE:SHI) have been squeezed for dividends given their discretionary payout policy and low gearing. PetroChina bent over backwards to declare a year-end dividend in 2015. It
needs to find a way to declare an interim dividend for 2016. We believe PetroChina is under tremendous pressure to fund state budgets and this will be the key to unlocking shareholder value.
- "The only way, in our view, that PetroChina can declare an H1 interim dividend is to 1) sell assets or 2) change its payout policy. Both, in our view, will unlock value for shareholders by either crystalizing SOTP value or demonstrating a new raison d'être for the SOE."
- Firm has a HK$8 price target. Implied upside 50%.
- Now read Best Ways To Gain From Bottoming Chinese Stock Market In 2016 »
Wed, Mar. 16, 1:57 PM
Fri, Jan. 15, 4:09 AM
- Crude futures are heading lower after posting the first significant gains for 2016 in the previous session, as the prospect of additional Iranian supply looms over the market with Western sanctions expected to be lifted within days.
- China's Sinopec (SNP, SHI) has also purchased its first ever batch of U.S. oil for export, a landmark transaction after the ending of a four-decade ban on domestic exports.
- West Texas Intermediate is down 3.4% at $30.13 a barrel, near the 12-year low of $29.93 hit earlier this week.
- ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
Dec. 16, 2015, 8:23 AM
- Sinopec (SNP, SHI) soared as much as 10.5% in Hong Kong today after the Chinese government said it would not cut domestic refined fuel prices, in an attempt to discourage rapid growth in oil consumption that would exacerbate air pollution.
- The decision comes a week after Beijing issued its first-ever red alert for pollution and a day after Shanghai warned residents to stay indoors because of “severely polluted” air.
- Sinopec and other state refiners such as PetroChina (NYSE:PTR) are likely to be pleased as long as the crude oil they buy or extract is cheaper than the fixed price of gasoline and diesel they sell, but the potential longer-term problem for the refiners is that the government’s price fix could essentially cap growth in demand for gasoline and diesel.
Oct. 22, 2015, 10:20 AM
- Sinopec Shanghai Petrochemical (NYSE:SHI): 9M15 EPS of $0.208.
- Revenue of $61.558B (-19.8% Y/Y).
Aug. 27, 2015, 2:15 PM
- Sinopec Shanghai Petrochemical (NYSE:SHI): 1H EPS of RMB0.164
- Revenue of RMB35.06B (-24.9% Y/Y).
Jul. 9, 2015, 12:50 PM
Jul. 9, 2015, 9:18 AM
Jul. 6, 2015, 12:49 PM
May 6, 2015, 9:39 PM
- Plans for a multibillion-dollar IPO of a vast network of gas stations owned by China’s Sinopec (SNP, SHI) - which could have been the biggest in Asia this year - is not likely to take place until 2016 at the earliest because of the retirement of Chairman Fu Chengyu, WSJ reports.
- Fu was considered the driver behind the plan to list the business, Sinopec Marketing Co., in a Hong Kong offering that had been expected to raise $5B-$10B.
- A public offering, when it happens, could prove attractive: Sinopec Marketing’s 30K gas stations, 23K of which have convenience stores attached to them, are dotted across China's east and south and account for 60% of the country’s market for oil products for cars.
Apr. 27, 2015, 12:45 PM
Apr. 27, 2015, 11:48 AM
- Sinopec (SNP, SHI) and PetroChina (NYSE:PTR) are dismissing reports that their parent companies could merge to create a state giant, saying they have never received any official information about such a restructuring.
- It is the first time Sinopec and PTR have formally downplayed Chinese and foreign media reports in recent months that the government is considering merging Sinopec's parent with China National Petroleum, which controls PTR.
- Shares are off earlier highs but still sport strong gains, particularly SHI, up nearly 15% in U.S. trading.
Apr. 27, 2015, 8:15 AM
- PetroChina (NYSE:PTR) and Sinopec (SNP, SHI), China’s two largest oil explorers, jumped by their daily trading limit in Shanghai on speculation the government is considering consolidating the industry.
- PTR jumped 10% to 14.65 yuan, the highest in more than five years, and SNP also surged 10% to 8.56 yuan at the close in Shanghai; in U.S. premarket action, PTR +5%, SNP +5.7%, SHI +17.1%.
- A report also said China’s state-assets regulator may cut the number of government-owned enterprises to 40 from 112 through mergers and restructuring.
- Earlier: Chinese shares continue powerful ascent
Apr. 23, 2015, 9:35 AM
Jan. 26, 2015, 3:57 PM
- Sinopec Shanghai Petrochemical (SHI -3.5%) moves sharply lower after disclosing that it expects to report a large FY 2014 net loss, reversing a nearly $153M profit in the prior-year period.
- SHI says it projects a net loss of 650M-750M renmimbi, or $104M-$120M, during the year ended Dec. 31, 2014, down from ~1M RMB a year ago, citing sluggish demand for petrochemicals despite a steep decline in prices last year; the company says its refining sector also posted an overall net loss last year.
Aug. 20, 2014, 10:24 AM
- Alimentation Couche-Tard (OTCPK:ANCUF) says it not pursuing a stake in China's Sinopec Sales (SNP, SHI), refuting an earlier report that it is among the companies rumored to be interested in buying a stake in the world's largest fuel retail network.
- Analysts had doubted Couche-Tard's interest, since a stake would give investors little control over Sinopec; Couche-Tard founder and CEO Alain Bouchard is a hands-on manager who makes acquisitions based on the belief that he can introduce his company's operational efficiency to the target and improve earnings. The chain has not historically made any passive investments of this kind, the paper said.
Sinopec Shanghai Petrochemical Co. Ltd. is engaged in the processing of crude oil into petrochemical products for sale. It produces refined oil products, intermediate petrochemicals, synthetic resins and synthetic fibers. The company operates its business through the following segments:... More
Sector: Basic Materials
Industry: Oil & Gas Refining & Marketing