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. 17, 2012, 12:27 PMChina's Sinopec (SHI +1%) is reportedly in talks to buy Repsol's (REPYY.PK stake in YPF (YPF +0.1%) for $15B. Repsol's chairman Antonio Brufau confirmed that certain companies have shown interest, but declined to comment on whether Sinopec was one of the interested suitors. | Apr. 17, 2012, 12:27 PM
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
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