News: China Petroleum & Chemical Corp (SNP.N)

SNP.N on New York Stock Exchange

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5 Feb 2016
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Wed, Jan 20 2016

Saudi Aramco in advanced talks to buy China refinery stakes: chairman

RIYADH Saudi Aramco is in advanced talks to invest in refineries in China and the company was also in talks with CNPC and Sinopec for investment opportunities in refining, marketing and petrochemicals, the chairman of the state oil company said.

Exclusive: China buys first U.S. crude cargo since end of export ban - source

China’s state-run oil refiner Sinopec Corp has purchased its first ever batch of U.S. crude oil for export, a source told Reuters on Thursday, a landmark transaction after the ending of a four-decade ban on domestic exports.

Sinopec strikes high-yielding oil at China's Beibu Bay test well

BEIJING, Jan 6 Sinopec Corp said it struck high-yielding oil and gas in a test well offshore Beibu Bay near China's southwestern coast, marking a rare offshore oil and gas find by the state firm that is largely focused onshore.

In rare move, Sinopec offers refineries bonus to export surplus diesel -sources

BEIJING China's Sinopec Corp is offering its subsidiary refineries big incentives to export their diesel fuel, sources said, in a rare move that reflects the top Asian refiner's deepening concerns about a growing domestic glut.

In rare move, Sinopec offers refineries bonus to export surplus diesel -sources

* Sinopec refiners offered $37.60/T bonus for diesel exports * Refinery throughput to remain high to meet gasoline demand * Bonus scheme to cost Sinopec roughly $80 mln over 4 months By Chen Aizhu and Adam Rose BEIJING, Nov 27 China's Sinopec Corp is offering its subsidiary refineries big incentives to export their diesel fuel, sources said, in a rare move that reflects the top Asian refiner's deepening concerns about a growing domestic glut. The internal bonus

China oil refiner Sinopec's net profit down 47.8 pct

BEIJING, Oct 29 China's Sinopec Corp , Asia's largest refiner, posted a 47.8 percent fall in net profits in the first nine months of the year, as oil prices fell. The state-controlled company's net profit was 27.0 billion yuan ($4.25 billion), compared to 51.8 billion yuan a year earlier, it said in a filing with the Shanghai bourse. The company plans to cut back operations at its refineries by around 5 percent in the fourth quarter compared with the first half of the year

Exclusive: China's Sinopec in talks to buy $3 billion chemical plant shut over safety - sources

BEIJING Chinese state energy giant Sinopec Corp is in advanced talks on taking a controlling stake in petrochemical firm Dragon Aromatics, which operates one of the country's biggest chemical plants, three sources with knowledge of the matter said.

Sinopec completes $1 bln refinery expansion, to raise throughput in Q4

BEIJING, Oct 20 Sinopec Corp said it has completed expansion works at a refinery in eastern China by adding a 100,000 barrels per day (bpd) crude unit, and plans to raise throughput in the fourth quarter.

China's Sinopec gets approval for $20 billion coal-to-gas pipeline

BEIJING China has approved a pipeline to transport synethic gas from coal-to-gas projects in the country's far west to the southern coast, energy giant Sinopec said on Wednesday.

UPDATE 1-China's graft watchdog investigates former Sinopec chairman

SHANGHAI, Oct 8 Chinese authorities have placed the governor of Fujian province, who is also the former chairman of China Petroleum and Chemical Corporation, under investigation on suspicion of "serious disciplinary violations", China's anti-graft watchdog has said.

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