THE recent sharp tumble in international crude oil prices is set to give an earnings boost to China’s mainland money-losing refiners, but the fate of Sinopec Corp and PetroChina Co is still at the mercy of state policies.
Some experts said the sharp fall in crude had provided China’s policy makers with a golden chance to [...]
Top Asian oil refiner Sinopec Group plans to cut its capital expenditure further this year, against the backdrop of high crude prices and intense competition in the petrochemical sector, its president said.
“Sinopec is under considerable pressure regarding economic results, capital flow and ensuring market supply,” Wang Tianpu, president of the listed arm Sinopec Corp, said [...]
China Petrochemical Corp., Asia’s biggest oil refiner, will “resolutely” delay some projects as reduced earnings force the company to cut spending.
Sinopec Group, as China Petrochemical is known, is struggling to boost profits and cash-flow, Wang Tianpu, president of Hong Kong-listed unit China Petroleum & Chemical Corp., said in a company newsletter today.
Tags: Petroleum, Sinopec
China Petroleum and Chemicals Group (Sinopec) said it will cut capital expenditure this year in order to “reduce capital and investment risks to the greatest degree.”
Wang Tianpu, president of the group’s Hong Kong-listed vehicle Sinopec Corp, said in a report on the Sinopec website that international oil prices are likely to remain high and competition [...]
China Petroleum and Chemical Corporation (Sinopec Corp) is expecting a loss in its August chemical production after reporting huge refining losses.
Soaring naphtha prices and fierce market competition were behind the loss, an insider with the Sinopec Group, parent of Sinopec Corp, told Xinhua on Monday.
The company reaped little profit from its July chemical production, which [...]
China Petroleum and Chemical Corporation (Sinopec Corp) is expecting a loss in its August chemical production after reporting huge refining losses.
Soaring naphtha prices and fierce market competition were behind the loss, an insider with the Sinopec Group, parent of Sinopec Corp, told Xinhua on Monday.
The company reaped little profit from its July chemical production, which [...]
