600028 China Petroleum & Chemical Corporation
- 6.27
- -0.27-4.13%
China Petroleum & Chemical Corporation News
Bank of America Ratings | Bank of America: Maintaining Sinopec's “Buy” Rating, H Shares Target Price HK$5.5
According to a report published by Bank of America Securities, Sinopec's net profit after tax for the first quarter of this year fell 10% year-on-year to 18.7 billion yuan, reaching about 29% and 28% of the full-year profit forecast by Bank of America and the market. Among them, profit before interest and tax from the exploration and mining business increased 11% year-on-year, mainly due to the 1.3% and 6% increase in crude oil and natural gas production in the first quarter, the 5% increase in the US dollar from year to year, and the narrowing of liquefied natural gas (LNG) import losses. However, the refining and chemical business performance was weak during the period, offsetting the related growth. The bank expects refining business to improve in the second quarter, while exploration and extraction business will continue to advance as oil prices rise
Petroleum stocks generally fell, CNOOC Oilfield Services (02883) fell by 5.02%. Agencies say the price of refined oil products will fall for the second time in the year
Jinwu Financial News | Petroleum stocks generally fell. CNOOC Oilfield Services (02883) fell 5.02%, while CNPC (00857), Yanchang Petroleum International (00346), and Sinopec (00386) fell 2.29%. According to Sino-Singapore Economic News, a new round of price adjustment window for domestic refined oil products will officially open. According to the General Agency, the price of refined oil products will fall for the second time in 2024. During the current pricing cycle, international crude oil prices first fell and then rose. On the supply side, the geographical conflict has gradually abated, but instability still exists. A number of OPEC+ oil producers have stated that they will firmly push for production cuts, and the pattern of tightening supply will continue. Required
[Hong Kong Stock Connect] Sinopec (00386)'s net profit for the first quarter fell 8.9% year on year to RMB 18.316 billion
Jinwu Financial News | Sinopec (00386) announced that for the three-month period ended March 31, 2024, it recorded net profit of 18.316 billion yuan (RMB, same below), a year-on-year decrease of 8.9%, and basic earnings per share of 0.153 yuan. During the period, revenue was recorded at 789.967 billion yuan, a slight decrease of 0.2% over the previous year. In the first quarter, oil and gas equivalent production was 128 million barrels, an increase of 3.4%; of these, crude oil production was 70.36 million barrels, an increase of 1.3%, achieving a price of 75.43 US dollars/barrel, a slight increase of 03%; natural gas production was 350.46 billion cubic feet, an increase of 6%.
China Petroleum & Chemical Corporation announced first-quarter results, net profit attributable to mother of 18.316 billion yuan, a year-on-year decrease of 8.9%
China Petroleum & Chemical Co., Ltd. (00386) announced results for the first quarter of 2024. According to Chinese corporate accounting standards, operating income was 789.967 billion yuan, a decrease of 0.2% year on year; net profit attributable to shareholders of the parent company was 18.316 billion yuan, a decrease of 8.9% year on year; net profit attributable to shareholders of the parent company after deducting non-recurring profit and loss was 18.186 billion yuan, a decrease of 7.8% year on year; and basic earnings per share were 0.153 yuan.
China Petroleum & Chemical Corporation appoints Zhao Dong as company president
China Petroleum & Chemical Co., Ltd. (00386) announced that Mr. Yu Baocai resigned as the company's president due to work, and Mr. Zhao Dong was appointed as the company's president and reassigned as the company's executive directors; Mr. Wan Tao and Mr. Yu Baocai were appointed as senior vice presidents of the company. All of the above matters will take effect on April 28, 2024.
Sinopec Corp. 1Q Rev CNY789.97B Vs. CNY791.33B >0386.HK
Sinopec Corp. 1Q Rev CNY789.97B Vs. CNY791.33B >0386.HK
Sinopec Corp. 1Q Net CNY18.32B Vs. Net CNY20.10B >0386.HK
Sinopec Corp. 1Q Net CNY18.32B Vs. Net CNY20.10B >0386.HK
Sinopec Corp. Higher Raw Material Cost Among Factors That Weighed on Results>0386.HK
Sinopec Corp. Higher Raw Material Cost Among Factors That Weighed on Results>0386.HK
China Petroleum & Chemical Corporation (00386) appoints Zhao Dong as president
Zhitong Finance App News, China Petroleum & Chemical Co., Ltd. (00386) announced that Mr. Yu Baocai resigned as the company's president due to work, and Mr. Zhao Dong was appointed as the company's president and transferred as the company's executive director; Mr. Wan Tao and Mr. Yu Baocai were appointed as senior vice presidents of the company. All of the above matters will take effect on April 28, 2024.
中國石油化工股份：海外監管公告 - 中國石油化工股份有限公司2024年第一季度報告
Oil's Latest Losing Streak Isn't Just About Israel -- Barrons.com
Oil prices fell on Monday, continuing a skid that took prices down 3.5% last week and has left the commodity in the red five out of the past six days.
The supply and demand pattern changed abruptly, and the Asian crude oil market was astonished: heavy crude oil with high sulfur was being chased
With changes in global crude oil supply and favorable refining returns, crude oil with higher sulphur content and density is becoming increasingly popular in the Asian physical market, a situation that rarely changes the usual situation.
Sinopec Finishes Testing Two Hydrogen Heavy Trucks
China Petroleum & Chemical (SHA:600028, HKG:0386) or Sinopec completed testing two hydrogen new energy trucks, the company said in its press release on its webpage. The two 490,000-ton hydrogen heavy-
Sinopec Acquires 30% of Kazakhstan's Silleno Project
China Petroleum & Chemical (SHA:600028, HKG:0386) or Sinopec acquired 30% of the Silleno project in Kazakhstan, the company said in its press release on its webpage. The project, which relies on ethan
Learn Citadel, Commodities “Arms Race”: AI and Big Data
Russell Hardy, CEO of Vitol, said that trading companies mainly use AI in two ways: one is to improve business efficiency, and the other is to gain trading advantages through stronger analytical capabilities.
After keeping an eye on the Middle East for a week, oil prices finally “fluctuated” and returned to a “waiting mode”
Although oil prices have never surpassed the high before Iran attacked Israel last weekend, the volume of bullish Brent crude oil options soared to a record high. Brent crude oil futures fluctuated the most in a few months, leaving traders in almost the same situation as a week ago during the weekend, waiting for the next steps of Israel and Iran.
Oil Markets React to Reports of Israeli Attack on Iran
Oil pared an earlier jump, after Iranian media appeared to downplay alleged retaliatory strikes from Israel reported by US officials. Brent crude traded about 2% higher after earlier soaring above $90 a barrel over potential concerns for a wider regional conflict. Bloomberg's Stephen Stapczynski reports.
Oil Prices on Track to Fall for Fourth Straight Day as Demand Disappoints
Crude-oil prices continued to soften for a fourth straight day Thursday, with futures falling to their lowest level in three weeks.
Goldman Sachs: $90 a Barrel Likely Ceiling for Brent Crude
Daan Struyven, Goldman Sachs head of oil research, says that if there are not any new geopolitical tensions, the path of least resistance for oil is to drift lower. He speaks on Bloomberg Television.
Changes in Hong Kong stocks | CNPC (00857) fell more than 3%, leading the decline, and multiple negative losses in oil stocks put pressure on oil prices, and international oil prices plummeted 3%
The trend of petroleum stocks was weak. As of press release, CNPC (00857) fell 2.96% to HK$3.21; CNOOC (00883) fell 1.06% to HK$18.62; and Sinopec (00386) fell 0.44% to HK$4.5.
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