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China: Waiting to Hear the Bullish CaseRoger Nusbaum • Wed, May 23, 2007
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10 Emerging Asia Dividend Stocks To ConsiderDavid Hunkar • Mon, Nov 5, 2012
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China Petroleum & Chemical Q3 2007 Earnings Call TranscriptTue, Oct 30, 2007
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at MarketWatch.com (Apr 25, 2013)
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at MarketWatch.com (Apr 5, 2013)
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at MarketWatch.com (Mar 25, 2013)
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at MarketWatch.com (Feb 25, 2013)
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at MarketWatch.com (Feb 25, 2013)
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at MarketWatch.com (Feb 25, 2013)
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at MarketWatch.com (Feb 5, 2013)
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at MarketWatch.com (Feb 4, 2013)
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at MarketWatch.com (Jan 20, 2013)
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at MarketWatch.com (Jan 16, 2013)
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at MarketWatch.com (Dec 21, 2012)
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at MarketWatch.com (Nov 26, 2012)
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at MarketWatch.com (Nov 15, 2012)
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at MarketWatch.com (Nov 9, 2012)
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at MarketWatch.com (Nov 6, 2012)
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at MarketWatch.com (Nov 6, 2012)
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at MarketWatch.com (Oct 31, 2012)
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at MarketWatch.com (Oct 29, 2012)
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at MarketWatch.com (Oct 18, 2012)
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at MarketWatch.com (Oct 16, 2012)
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- | Earnings
- | Dividends
- | M&A
- | On the move
- Monday, February 25, 12:27 PM Chinese energy firms got good news yesterday when China hiked the price they’re allowed to charge for gasoline to account for a rise in the price of oil. The move means the companies, especially Sinopec (SNP), should continue to see profitable profit margins on gas refining, Citigroup says. The news isn’t helping China’s U.S.-traded energy stocks: SNP -0.1%, CEO -0.1%, PTR -0.5%. Comment! [Energy, Global & FX]
- Monday, February 25, 10:37 AM Chesapeake (CHK -2.8%) is obviously a distressed seller, so that helps explain why the $1B Sinopec (SNP +0.6%) paid to get into its Mississippi Lime acreage is below expectations. But the Mississippi Lime hasn’t shown great results: "It seems that foreign investors have been less willing over the last few years to come in and pay a large amount for unproven acreage,” Wells Fargo’s David Tameron says. 2 Comments [Energy, On the Move]
- Monday, February 25, 7:48 AM Chesapeake Energy (CHK) sells a 50% interest in its Mississippi Lime play to Sinopec (SNP) for $1.02B in cash. CHK -0.5% premarket. (PR) 1 Comment [Energy, On the Move]
- Thursday, February 7, 11:59 AM China has mandated its state-owned energy firms help solve its pollution problem, and Sinopec (SNP -4.2%) has said it plans to spend - and borrow - to comply. Moody's analysts expect SNP's internally generated operating cash flow will be insufficient to cover its capex in 2013-14. It also worries the government won’t allow SNP to pass the costs on to consumers; we know how that's worked out for Petrobras. Comment! [Energy, Global & FX, On the Move]
- Tuesday, February 5, 10:10 AM A 6.4% fall in Sinopec's (SNP +0.4%) Hong Kong share price overnight at least in part reflects the need for clarity about what the company intends to do with funds raised in its HK$24B private placement. The move likely will help pay for it to acquire upstream assets from its parent, but the announcement says only that the proceeds are intended to be used for "general corporate purposes." Comment! [Energy, Global & FX]
- Monday, February 4, 10:48 AM Sinopec (SNP -6.8%) reveals plans to raise HK$24B ($3.1B) in a placement of 2.85B Hong Kong-listed shares at HK$8.45 each. Dealing with substantial debt isn't the only item clouding SNP's outlook: It is bearing some of the responsibility for cleaning up Beijing's foul air. Chairman Fu Chengyu says SNP will invest ~30B yuan/year ($4.8B) to improve its refiners, up from an average ~20B annually for the last decade. Comment! [Energy, Global & FX, On the Move]
- Thursday, January 31, 8:25 AM Sinopec (SNP) may fund its acquisition of $8B worth of its parent's assets by taking on additional debt, which would add to an already heavy debt burden and limit its outlook on overseas acquisitions. The new assets would increase SNP's proven and probable oil and gas reserves by ~960M boe, raising its valuation but pushing its debt ratio sharply higher than its Chinese peers. Comment! [Energy, Global & FX]
- Wednesday, January 9, 8:55 AM Sinopec (SNP) seeks to buy its parent's upstream assets in countries such as U.K., Russia, Colombia, and Kazakhstan, WSJ reports. The ~$8B acquisition would take place in April and is aimed at putting SNP on par with other international oil majors such as Exxon, Chevron and Shell, whose operations globally span refining, exploration and production of oil and gas. Comment! [Energy, Global & FX]
- Thursday, January 3, 3:19 PM China has been trying to develop shale gas technology by having its major oil firms buy into U.S. firms to gain access, but Nomura does not expect any meaningful supply until 2015. Instead, China is turning to coal, which it has in abundance and which can be used to produce man-made gas; the technology "is considered stable and the economics are superior in China." 1 Comment [Energy, Global & FX]
- Friday, December 28, 2012, 8:18 AM Sinopec (SNP) launches a new oilfield services division to compete for global engineering and construction business, with a possible stock listing lined up for the unit. The giant division is formed from the consolidation of service departments for eight oilfields and will be responsible for executing overseas contracts worth ~$14.2B. 1 Comment [Energy]
- Wednesday, December 26, 2012, 2:54 PM ConocoPhillips (COP -0.7%) joins the shale gas search in China, announcing it will research potentially vast reserves in southwestern China with Sinopec (SNP +1.5%) over the next two years. Both Shell (RDS.A, RDS.B) and Chevron (CVX) already have joined with SNP to exploit China's extensive natural gas reserves, making COP the third international oil giant to join in the hunt. The Chinese government has targeted raising annual shale-gas output from practically nothing to 6.5bcm by 2015 and as much as 100bcm by 2020. 1 Comment [Energy, Global & FX]
- Monday, December 17, 2012, 2:31 PM Talisman Energy (TLM +0.6%) completes a previously announced $1.5B deal with Sinopec (SNP -1.3%) for a 49% interest in the Canadian producer’s North Sea business. There was no serious opposition to the partnership, but it's the latest example of the growing cooperation between Canada and China in oil and gas development. 1 Comment [Energy, M&A, Global & FX]
- Monday, December 10, 2012, 9:48 AM Cnooc (CEO +0.5%) raises its production outside China to one-third from one-sixth, as its takeover of Nexen (NXY +14.4%) brings assets from the North Sea, Gulf of Mexico and Nigeria. CEO and Sinopec (SNP) may be encouraged to pursue ambitious deals elsewhere, with Talisman, Tullow and BG Group among possible targets. But considering Exxon Mobil's (XOM) lost luster, bigger may not mean better. Comment! [Energy, Global & FX]
- Thursday, December 6, 2012, 12:29 PM A Cnooc (CEO) takeover of Nexen (NXY) would give it the largest stake in the Buzzard oil field in the North Sea that "has increasingly influenced" global oil prices, according to a memo sent to Canada PM Stephen Harper. China's government also would own a 16% share of Syncrude, Canada’s biggest oil sands project in production, with Sinopec (SNP) owning 9% and CEO acquiring NXY’s 7%. Comment! [Energy, M&A, Global & FX]
- Friday, November 30, 2012, 9:34 AM Canadian Oil Sands (COSWF.OB) says it plans to invest ~C$1.3B in the Syncrude joint venture (also: NXY, SU, SNP) next year to revamp mining infrastructure to produce stable volumes of light crude. The company also says its balance sheet is stronger than it had expected, and it plans to maintain its C$0.35/share quarterly dividend throughout next year. Comment! [Energy]
- Wednesday, November 28, 2012, 8:15 AM Sinopec (SNP) is planning an IPO in Hong Kong for its newly-formed refining and petrochemical engineering unit in Q2 2013, which could raise ~$1.5B, WSJ reports. Sinopec Engineering hopes that a Hong Kong listing would raise its profile in the international market as it strives to secure more overseas engineering and construction projects. Comment! [Energy, Global & FX]
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Michael Bryant
Sinopec's (SNP) expanding into Canada. This has been a great stock for me, but remember that it is a refiner. http://yhoo.it/pBPSDB= - View all 2 replies
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Hillbilly Stock Star: ENY.....the bedouin fires at night, the oilfields at first light!.....http://bit.ly/qFqhra
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Michael Bryant
Brazil's iron ore giant Vale (VALE) and steel giant Companhia Siderurgica (SID) along with China's Sinopec (SNP) have done well for me. - View all 0 replies
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Dividend Sheet
6 Undervalued Dividend Stocks By Graham Number + http://t.co/InjVoAC + $CCL $HTHIY.PK $MGA $MKSI $SMP $SNP - View all 0 replies
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Michael Bryant
China Mobile (CHL) and China Life (LFC) are too large. PetroChina (PTR) and CNOOC (CEO) may be good buys. SNP??? http://yhoo.it/e4FRkF= - View all 0 replies
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