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Wed, Aug. 20, 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.
Tue, Aug. 19, 11:25 AM
- Canada's Alimentation Couche-Tard (OTCPK:ANCUF) and China's Tencent Holdings (OTCPK:TCEHY, OTCPK:TCTZF) reportedly are among suitors on the short list to buy a $16B minority stake in China's Sinopec Sales (SNP, SHI), the world's largest fuel retail network.
- Sinopec plans to sell up to 30% of Sinopec Sales by year-end 2014 as China restructures government-owned assets; while a deal would give investors little control over the company, a likely exit through an IPO planned within three years appears to have attracted a wide range of suitors.
- Sinopec Sales booked a net profit of 25.1B yuan ($4.1B) in 2013 from 30K-plus service stations and 23K-plus convenience stores.
Thu, Apr. 10, 12:45 PM
Tue, Jan. 21, 2:59 PM
- Cnooc's (CEO -6.2%) loss apparently is Sinopec's (SNP +5.9%) gain, as the two Chinese integrated oil and gas companies move in opposite directions after Cnooc estimated oil production growth below its annual target for the third straight year.
- J.P. Morgan is surprised Cnooc has guided almost no organic growth in 2014, and thinks the company has set itself up for a difficult 2015, where 14%-18% Y/Y organic production growth would be needed to reach the low end of the 2011-15 6%-10% target; the firm recommends SNP or PetroChina (PTR +0.2%) instead for China oil exposure.
- SNP's prospects are considered rosier than Cnooc's: Its dividend yield is healthy at 5.21% vs. the 4.67% industry average, and its 9.17 P/E ratio indicates general investor expectations of higher returns in the short and medium term, if not beyond.
- Also, SNP discloses that Sinopec Group (SHI) increased its shareholding via the acquisition of ~173.25M class A shares on the secondary market as of Jan. 17.
Jun. 10, 2013, 12:45 PM
Mar. 21, 2013, 10:29 AM
Feb. 27, 2013, 12:55 PM
Oct. 5, 2012, 12:45 PM
Apr. 17, 2012, 12:27 PM
Mar. 5, 2012, 1:06 PM
Jan. 3, 2012, 9:19 AMDevon Energy (DVN) announces a transaction with Sinopec International (SHI) whereby the company will give up one-third of its interest in 5 separate venture plays for $2.2B. The firm says the deal will improve its capital efficiency by recovering its land and drilling costs and by cutting future capital commitments. Shares +4.8% premarket. | Comment!
Oct. 8, 2011, 7:36 PMChina's NDRC cuts prices for fuel by about 3.5%, hoping to ease costs for consumers and lower (reported) inflation. The news won't be welcome at the country's beleaguered refiners who had hoped to take advantage of falling world oil prices by finally producing product at a profit. Sinopec (SHI) -31% YTD. | 6 Comments
Aug. 12, 2011, 2:15 PMBig Q2 drops in oil production at more than 20 major oil companies are startling, even accounting for lost Libyan production, Deutsche Bank says, and are not likely to be offset by unconventional deepwater or shale E&P projects, except at XOM, OXY and MRO. Wall Street will need to ratchet down its estimates, and oil prices could rise to $120/barrel. | 2 Comments
Apr. 19, 2011, 8:21 AM
Apr. 7, 2011, 8:45 AMWith crude oil prices on the march, China throws a bone to its refiners, hiking fuel prices nearly 6%. Oil is up 14% since the last increase in February, making the refiners heavily dependent on government subsidies to keep their heads above water. At least it holds down "official" inflation statistics. | Comment!
Mar. 22, 2011, 9:48 AM
SHI vs. ETF Alternatives
Sinopec Shanghai Petrochemical Co Ltd is a petrochemical company. The Company, along with its subsidiaries, is engaged in processing crude oil into synthetic fibres, resins and plastics, intermediate petrochemicals and petroleum products.
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