Company Overview and News
Officials at China Petroleum & Chemical (Sinopec), the world’s second largest oil refiner and one of the top chemicals producers, are looking forward to the day when they can make products many times more valuable and profitable on a per tonne basis.
Oil and gas major China Petroleum & Chemical (Sinopec) has unveiled a US$1.68 billion chemical plant acquisition and approved a plan to separately list its fuel marketing business on an overseas stock exchange.
BP has sold out of the Shanghai Secco Petrochemical Company by offloading its 50pc stake in the business to the subsidiary of project partner Sinopec for $1.68bn (£1.3bn).
In what comes as welcome news to an economy in transition, China’s GDP has increased for a second consecutive quarter. The pickup in growth experienced during the first quarter of the year was largely attributable to an increase in industrial production, credit growth and a booming real estate sector.
Hong Kong stocks may continue to retreat on Wednesday, with futures pointing to a mixed opening, in the wake of a downbeat session for US stocks in overnight trading.
Hong Kong stocks are set to open flat on Tuesday, tracking a listless trading session in New York.
Hong Kong stocks are set to kickoff the week on a positive note on Monday, as investors cheered a successful wrap to the summit meeting between the leaders of China and the US, although a high level investigation of China’s insurance regulator capped the mood in Shenzhen and Shanghai.
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Hong Kong stocks may open higher on Friday, cautiously sustaining the momentum that returned to markets after the uncertainty about a US rate increase was put to rest.
Hong Kong stocks are poised to open higher on Thursday after US markets rallied following the Fed’s decision to raise its benchmark interest rate.
4 Chemicals stocks are moving up in their overall rating this week, according to the Portfolio Grader database. Every one of these is graded an “A” (“strong buy”) or “B” overall (“buy”).
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Sinopec Shanghai Petrochemical Co. Ltd has announced the unaudited operating results of the Company and its subsidiaries, prepared under International Financial Reporting Standards for the six months ended 30 June 2016.
This week, 4 Chemicals stocks are improving their overall rating on Portfolio Grader. Each of these rates an “A” (“strong buy”) or “B” overall (“buy”).
Oil giant BP plc (ADR) (NYSE:BP) may not invest in the multi-billion dollar IPO of Saudi Aramco, Reuters reported, citing CEO Bob Dudley. The new comments negate earlier rumors that the integrated oil and gas company would be part of the much awaited IPO. Russian oil giant Lukoil said in early June that it is also not interested to be part of the listing. On the flip side, BP's peers Exxon Mobil Corporation and China's Sinopec Shanghai Petrochemical Co.
2017-12-11 - Wilton
2017-12-11 - Wilton
2017-12-03 - Wilton
2017-11-27 - Wilton