Sinopec http://www.globalpost.com/taxonomy/term/25250/all en Hong Kong shares seen higher ahead of China inflation data http://www.globalpost.com/dispatch/news/thomson-reuters/130110/hong-kong-shares-seen-higher-ahead-china-inflation-data <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>HONG KONG, Jan 11 (Reuters) - Hong Kong shares could start slightly higher on Friday, ahead of China's December inflation data expected later in the day that is forecast to hit a 7-month high of 2.3 percent.</p> <p>Economists polled by Reuters also predicted China's producer price index dipped 1.8 percent in December from a year ago, easing from November's annual factory gate deflation of 2.2 percent.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130110/hong-kong-shares-seen-higher-ahead-china-inflation-data" target="_blank">read more</a></p> Hang Seng Index Constituent Stocks Hong Kong Sinopec Thomson Reuters Fri, 11 Jan 2013 01:15:48 +0000 Thomson Reuters 5732939 at http://www.globalpost.com Confidence in UK North Sea up after tax breaks-Deloitte http://www.globalpost.com/dispatch/news/thomson-reuters/130117/confidence-uk-north-sea-after-tax-breaks-deloitte <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Jan 18 (Reuters) - Investor confidence in Britain's North Sea is on the mend with a jump in drilling and deals recorded in 2012 as the oil province, which is in long-term decline, reaps the benefits of recently announced tax breaks, says a study.</p> <p>Drilling for oil and gas in waters off Britain was 33 percent higher last year than in 2011 while deal activity surged by around a third in the period, found a study by Deloitte published on Friday.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130117/confidence-uk-north-sea-after-tax-breaks-deloitte" target="_blank">read more</a></p> Deloitte Entertainment Matter Sinopec Technology Thomson Reuters Fri, 18 Jan 2013 00:30:29 +0000 Thomson Reuters 5735897 at http://www.globalpost.com Hong Kong shares fall as Sinopec tumbles; China slips http://www.globalpost.com/dispatch/news/thomson-reuters/130204/hong-kong-shares-fall-sinopec-tumbles-china-slips <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* HSI -1.8 pct, H-shares -2.5 pct, CSI300 -0.5 pct</p> <p>* Sinopec down but above HK$8.45 per new share price</p> <p>* Coal, railway strength limit A-share losses</p> <p>By Clement Tan</p> <p>HONG KONG, Feb 5 (Reuters) - Hong Kong shares tumbled to a three-week low on Tuesday, dragged down by a 7 percent slump for China Petroleum and Chemical Corp (Sinopec) after the oil giant launched a $3.1 billion new share placement.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130204/hong-kong-shares-fall-sinopec-tumbles-china-slips" target="_blank">read more</a></p> Hang Seng Index Constituent Stocks Sinopec Stock market Technology Thomson Reuters Tue, 05 Feb 2013 03:45:04 +0000 Thomson Reuters 5745962 at http://www.globalpost.com Hong Kong shares suffer worst day in 3 mths, Sinopec sinks http://www.globalpost.com/dispatch/news/thomson-reuters/130205/hong-kong-shares-suffer-worst-day-3-mths-sinopec-sinks <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>HONG KONG, Feb 5 (Reuters) - Hong Kong shares posted their worst loss in three months on Tuesday, weighed by a 6.4 percent slide in China Petroleum and Chemical Corp (Sinopec) after a $3.1 billion new share placement.</p> <p>The Hang Seng Index ended down 2.3 percent at 23,148.5, its worst single-day loss since Nov. 8, unmoved by a rebound over the day in mainland shares. The China Enterprises Index of the top Chinese listings in Hong Kong shed 2.8 percent.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130205/hong-kong-shares-suffer-worst-day-3-mths-sinopec-sinks" target="_blank">read more</a></p> Hang Seng Index Constituent Stocks Sinopec Stock market Technology Thomson Reuters Tue, 05 Feb 2013 08:30:03 +0000 Thomson Reuters 5746113 at http://www.globalpost.com Hong Kong stocks fall 0.34% http://www.globalpost.com/dispatch/news/afp/130207/hong-kong-stocks-fall-034 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Hong Kong shares closed 0.34 percent lower on Thursday, in line with a regional sell-off and ahead of the release of closely watched Chinese economic data.</p> <p>The benchmark Hang Seng Index fell 79.93 points to 23,177.00 on turnover of HK$79.04 billion ($10.20 billion).</p> <p>Beijing will release on Friday trade and inflation data for January, looking for a better insight into the state of the world's number two economy, on the last day before a week-long holiday on the mainland for Lunar New Year.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130207/hong-kong-stocks-fall-034" target="_blank">read more</a></p> Hang Seng Index Constituent Stocks PetroChina Sinopec AFP Thu, 07 Feb 2013 09:31:12 +0000 Agence France-Presse 5748588 at http://www.globalpost.com US stocks rise on promise of more stimulus http://www.globalpost.com/dispatch/news/afp/130225/us-stocks-rise-promise-more-stimulus-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>US stocks moved solidly higher Monday on expectations of continued economic stimulus measures by central banks.</p> <p>About 40 minutes into trade, the Dow Jones Industrial Average rose 72.93 points (0.52 percent) to 14,073.50.</p> <p>The broad-based S&amp;P 500 increased 9.16 (0.60 percent) to 1,524.76 while the tech-rich Nasdaq Composite Index jumped 22.48 points (0.71 percent) to 3,184.29.</p> <p>The increases followed comments Friday by St. Louis Federal Reserve President James Bullard that the US easy-money policy would continue.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130225/us-stocks-rise-promise-more-stimulus-0" target="_blank">read more</a></p> Bond Disaster Sinopec Technology AFP Mon, 25 Feb 2013 15:45:48 +0000 Agence France-Presse 5766103 at http://www.globalpost.com Sinopec in JV to buy $3 billion of assets from parent http://www.globalpost.com/dispatch/news/thomson-reuters/130324/sinopec-jv-buy-3-billion-assets-parent <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>HONG KONG (Reuters) - China Petroleum and Chemical Corp (Sinopec Corp) &lt;0386.HK&gt; &lt;600028.SS&gt; &lt;SNP.N&gt; has agreed to set up a joint venture with its parent company to buy $3 billion (2 billion pounds) worth of oil and gas assets held by the latter in a bid to improve its profitability.</p> <p>The 50/50 venture between a wholly-owned subsidiary of Sinopec Corp and Sinopec Corp's parent, China Petrochemical Corp (Sinopec Group), will buy oil and gas producing assets with 310 million barrels in proven and probable reserves.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130324/sinopec-jv-buy-3-billion-assets-parent" target="_blank">read more</a></p> China Petrochemical Corporation China Petroleum and Chemical Corp Hang Seng Index Constituent Stocks Sinopec Sinopec Corp Thomson Reuters Sun, 24 Mar 2013 16:30:04 +0000 Thomson Reuters 5792596 at http://www.globalpost.com China's Sinopec says net profit down 12.8% for 2012 http://www.globalpost.com/dispatch/news/afp/130324/chinas-sinopec-says-net-profit-down-128-2012 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese oil giant Sinopec's annual net profit for 2012 fell 12.8 year-on-year, the firm said, with high crude-oil costs and a slowdown in the global and Chinese economy weighing on its bottom line.</p> <p>Asia's largest refiner by capacity said in a filing late Sunday to the Hong Kong stock exchange that its net profit for the year fell to 63.88 billion yuan ($10.3 billion) from 73.23 billion yuan in 2011.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130324/chinas-sinopec-says-net-profit-down-128-2012" target="_blank">read more</a></p> Hang Seng Index Constituent Stocks PetroChina Sinopec AFP Sun, 24 Mar 2013 20:31:50 +0000 Agence France-Presse 5792721 at http://www.globalpost.com Taiwan 's CPC joins Sinopec in Myanmar venture http://www.globalpost.com/dispatch/news/afp/130425/taiwan-s-cpc-joins-sinopec-myanmar-venture <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Taiwan's state oil supplier CPC Corp. said Thursday it had bought a 30 percent stake in a project launched by China's oil giant Sinopec to tap gas reserves in Myanmar.</p> <p>In a statement CPC said the company and International Petroleum Exploration and Production Corp (SIPC), a wholly-owned subsidiary of Sinopec, signed the contract Wednesday.</p> <p>While declining to specify the investment value, it said the contract allows CPC to obtain a 30 percent stake from the SIPC project, which already struck six exploration wells.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130425/taiwan-s-cpc-joins-sinopec-myanmar-venture" target="_blank">read more</a></p> CPC Corp. CPC Corporation, Taiwan Hang Seng Index Constituent Stocks Sinopec AFP Thu, 25 Apr 2013 10:31:38 +0000 Agence France-Presse 5824914 at http://www.globalpost.com SK Global Chemical inks deal with SINOPEC to form JV http://www.globalpost.com/dispatch/news/yonhap-news-agency/130628/sk-global-chemical-inks-deal-sinopec-form-jv <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Yonhap News Agency </div> </div> </div> <!--paging_filter--><p>SEOUL, June 28 (Yonhap) -- SK Innovation Co. said Friday that its wholly-owned unit SK Global Chemical Co. signed a deal with the state-run China National Petrochemical Corp. (SINOPEC) to set up a joint venture for the commercial operation of a naphtha cracking center (NCC) recently built in Wuhan, Central China.</p> <p>SK Global Chemical holds a 35 percent stake in the joint venture, while SINOPEC owns the rest, said SK Innovation, the holding company of SK Global Chemical.</p> <p>SK Innovation said the commercial operation at the plant will start in the second half of the year.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://english.yonhapnews.co.kr" class="button wire yonhap"></a></p> <p>Copyright Yonhap News Agency, 2013. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/yonhap-news-agency/130628/sk-global-chemical-inks-deal-sinopec-form-jv" target="_blank">read more</a></p> Chemistry Hang Seng Index Constituent Stocks Sinopec Yonhap News Agency Fri, 28 Jun 2013 06:31:31 +0000 Yonhap News Agency 5870056 at http://www.globalpost.com Exclusive: Weatherford, China's Sinopec close to oil service tie-up; shale in focus http://www.globalpost.com/dispatch/news/thomson-reuters/130802/exclusive-weatherford-chinas-sinopec-close-oil-service-tie-shal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Chen Aizhu</p> <p>BEIJING (Reuters) - China's Sinopec Corp &lt;0386.HK&gt; and U.S.-listed Weatherford International &lt;WFT.N&gt; are in advanced talks about forming a joint oilfield service company, as the world's top energy consumer seeks overseas expertise to help unlock its vast shale resources, said people with direct knowledge of the matter.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130802/exclusive-weatherford-chinas-sinopec-close-oil-service-tie-shal" target="_blank">read more</a></p> Economy of the United States Hang Seng Index Constituent Stocks Sinopec Technology Thomson Reuters Fri, 02 Aug 2013 10:34:49 +0000 Thomson Reuters 5900846 at http://www.globalpost.com China's Sinopec says H1 net profit up 24% http://www.globalpost.com/dispatch/news/afp/130825/chinas-sinopec-says-h1-net-profit-24 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese oil giant Sinopec said Sunday its net profit for the first half of 2013 grew 24 percent, thanks to improved refining margins after Beijing introduced reforms to fuel pricing. </p> <p>It said net profit for January-June was 30.28 billion yuan ($4.95 billion), compared to 24.50 billion yuan in the same period last year. </p> <p>Revenue rose 5 percent to 1.42 trillion yuan, it said in a filing to the Hong Kong Stock Exchange. </p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130825/chinas-sinopec-says-h1-net-profit-24" target="_blank">read more</a></p> China National Offshore Oil Corporation Hang Seng Index Constituent Stocks Sinopec AFP Sun, 25 Aug 2013 14:30:39 +0000 Agence France-Presse 5917407 at http://www.globalpost.com China's Sinopec says 1H profit up 24 per cent as fuel price reforms help end refining losses http://www.globalpost.com/dispatch/news/the-canadian-press/130826/chinas-sinopec-says-1h-profit-24-cent-fuel-price-reforms-hel <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>HONG KONG - Chinese state-owned oil company Sinopec's first-half profit rose by about a quarter as reforms to fuel price controls ended losses at its refining business.</p> <p>Asia's biggest refiner by volume also said Sunday that losses narrowed at its chemicals business.</p> <p>Beijing-based Sinopec said January-June profit climbed 24 per cent to 30.3 billion yuan ($5 billion) or 0.25 yuan (4 cents) a share.</p> <p>Revenue rose 5 per cent to 1.4 trillion yuan.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130826/chinas-sinopec-says-1h-profit-24-cent-fuel-price-reforms-hel" target="_blank">read more</a></p> Asia Hang Seng Index Constituent Stocks Sinopec The Canadian Press Mon, 26 Aug 2013 05:51:22 +0000 The Canadian Press 5917714 at http://www.globalpost.com China environment min suspends some approvals for Sinopec, CNPC http://www.globalpost.com/dispatch/news/thomson-reuters/130829/china-environment-min-suspends-some-approvals-sinopec-cnpc <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By David Stanway and Judy Hua</p> <p>BEIJING (Reuters) - China's environment ministry will stop approving some new refining projects and upgrades of existing facilities by the country's top state-owned oil firms after the two failed to meet key pollution targets in 2012, it said on Thursday.</p> <p>The Ministry of Environmental Protection (MEP) said China National Petroleum Corporation (CNPC) failed to meet targets to cut chemical oxygen demand in 2012, while Sinopec Group failed to meet a target to cut nitrogen oxide emissions.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130829/china-environment-min-suspends-some-approvals-sinopec-cnpc" target="_blank">read more</a></p> Environment of the People's Republic of China Hang Seng Index Constituent Stocks Sinopec Technology Thomson Reuters Thu, 29 Aug 2013 10:50:25 +0000 Thomson Reuters 5920521 at http://www.globalpost.com China halts environmental approvals for oil giants http://www.globalpost.com/dispatch/news/afp/130829/china-halts-environmental-approvals-oil-giants <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>China's environment ministry has suspended approvals of new projects by the country's two biggest oil firms for failing to achieve pollution reduction goals, it said Thursday.</p> <p>The ministry said it had temporarily halted approval of new refining projects, and renovation or expansion of existing facilities, for China National Petroleum Corp (CNPC) and China Petroleum and Chemical Corp (Sinopec).</p> <p>CNPC failed to meet the target for reducing chemical oxygen demand -- a measure of the amount of pollution in water -- for last year, the ministry said in a statement.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130829/china-halts-environmental-approvals-oil-giants" target="_blank">read more</a></p> Environment of the People's Republic of China Hang Seng Index Constituent Stocks Sinopec AFP Thu, 29 Aug 2013 12:47:03 +0000 Agence France-Presse 5920594 at http://www.globalpost.com