Post Tagged with: "sinopec"

Source: Reuters

Exclusive: China snaps up Russia’s expensive Urals oil in thirst for sour barrels

Reuters


MOSCOW  – China’s refiners have purchased a quarter of Russia’s Urals oil exports planned for June in the Baltic despite record high premiums for the grade due to a lack of sour barrels as result of the OPEC+ output …

Source: CNBC

China oil companies could report ‘significant losses’ in the first quarter, Bernstein says

CNBC


Earnings from China’s oil firms are going to “look pretty ugly” in the short-term, one Bernstein analyst told CNBC on Monday.

“We’re expecting very significant losses in the first quarter for PetroChina and Sinopec as a result of the …

Source: Reuters

Exclusive: Sinopec to review potential $16 billion U.S. gas deal with Cheniere – sources

Reuters


SINGAPORE – China’s Sinopec, expected to be the next major Chinese buyer of U.S. liquefied natural gas (LNG), is planning to review terms of a potential $16 billion supply deal with Cheniere Energy after a sharp drop in LNG …

January 17, 2020 - 11:00 am Closing Bell Story‎, Energy News, Finance, LNG, Natural Gas News
Source: Reuters

China issues first 2020 fuel export quotas, up 53% from year ago

Reuters


SINGAPORE – China has raised the volumes of its first batch of 2020 fuel export quotas by 53% from a year earlier to 27.99 million tonnes, according to a document from the Ministry of Commerce that was reviewed by …

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

From Reuters


China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including …

Shell Enters China’s Shale Oil Scene With Joint Study With Sinopec

Shell Enters China’s Shale Oil Scene With Joint Study With Sinopec

From Reuters

Royal Dutch Shell has entered China’s shale oil sector, signing an agreement with state-owned Sinopec to study an East China block, part of the nation’s early efforts to unlock the potentially massive unconventional resource.

China is already in …

April 9, 2019 - 12:10 pm China, Closing Bell Story‎, Crude Oil News, Energy News
Sinopec’s Net Profit Up 20% in 2018

Sinopec’s Net Profit Up 20% in 2018

Sinopec’s Net Profit Up Over 20% to RMB 61.6 Billion in 2018

Sinopec May Ink 20-Year LNG Deal with Cheniere When Trade Spat Ends

Sinopec May Ink 20-Year LNG Deal with Cheniere When Trade Spat Ends

From Reuters

China Petroleum and Chemical Corp plans to sign a 20-year liquefied natural gas (LNG) supply agreement with Cheniere Energy once China and the United States end their trade dispute, two sources with knowledge of the matter said on …

March 6, 2019 - 2:56 pm China, Closing Bell Story‎, Energy News, LNG, Natural Gas News
Sinopec Says It Lost $688 Million on ‘Misjudged’ Oil Prices

Sinopec Says It Lost $688 Million on ‘Misjudged’ Oil Prices

From Bloomberg

China’s largest oil refiner said its trading unit lost almost $700 million last year after being wrong-footed by zigzagging markets, revealing one of the biggest losses by a commodity trader in the last decade.

Sinopec blamed the losses …

January 25, 2019 - 4:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Sinopec Oilfield Plans 4,000 Job Cuts

Sinopec Oilfield Plans 4,000 Job Cuts

From Reuters

Sinopec Oilfield Service Corp plans to cut 4,000 jobs this year due to structural overstaffing, having let go 2,000 employees in the first half, company spokesman Li Honghai said on Wednesday.

The planned lay-offs account for just under …

August 30, 2018 - 3:15 pm China, Closing Bell Story‎, Energy News
Alaska LNG Preparing an Equity Offering: AGDC Official

Alaska LNG Preparing an Equity Offering: AGDC Official

From Reuters

Proposed project price is tagged at $43 billion

WASHINGTON (Reuters) – Alaska Gasline Development Corp (AGDC) is preparing an equity offering for this summer and is open to partnering with a major energy firm on the development of …

June 29, 2018 - 3:13 pm Closing Bell Story‎, Energy News, LNG
Job Security Comes at a Price for Chinese Oil and Gas Companies

Job Security Comes at a Price for Chinese Oil and Gas Companies

Maintaining employment strains Chinese oil and gas firms’ shrinking profits

Many international oil and gas companies have responded to the steep drop in prices since November 2014 by cutting expenditures. Companies have achieved better financial metrics by increasing efficiencies in …

China’s Oil Imports Up 20%

China’s Oil Imports Up 20%

Saudi Arabia and Russia vie for market share in China

Monthly oil imports to China in February were 20% higher in 2016 than the year before. The increased level of imports in February were the highest ever on a daily …

OPEC’s Strategy is Working – in China

OPEC’s Strategy is Working – in China

Sinopec shuts-in four production sites

As the oil price slump continues amid OPEC’s battle to maintain market share, the group’s goal of eliminating high-cost production appears to be working, but perhaps not where OPEC had originally hoped.

Sinopec (ticker: SNP), …

Source: Iraqenergy.org

Iraq + China MOU Establishes Long Term Oil & Gas Partnership

Chinese-made oilfield equipment will head to Iraq; crude oil trade, E&P, oilfield engineering services, chemical refining get a bump; construction of storage and transport facilities on tap

During a visit to China, Iraqi Prime Minister Haider al-Abadi signed a memorandum …

China has Reduced its Shale Drilling & Completion Costs by 23%

China has Reduced its Shale Drilling & Completion Costs by 23%

As China looks for way to meet more of its natural gas demand domestically, it has looked to improving the economics of its own shale gas development. While China is one of four countries currently producing commercial volumes of shale …

China Opens Six Blocks for Private Exploration Amid Market Turmoil

China Opens Six Blocks for Private Exploration Amid Market Turmoil

Remote location and complex geology remain obstacles

The Chinese government announced yesterday that it will open six oil and gas blocks for private companies to explore in the Xinjiang region in northwest China. China’s Ministry of Land and Resources said …

China Considering Mega-Mergers

China Considering Mega-Mergers

The Chinese government is considering merging state-owned oil companies in order to increase efficiency.

China is considering mergers of its state-run oil companies in order to create national champions that could compete with the likes of ExxonMobil (ticker: XOM) and …

February 17, 2015 - 3:35 pm International, Oil and Gas 360 Articles
China Raises Tax Threshold on Oil and Gas to Help Industry

China Raises Tax Threshold on Oil and Gas to Help Industry

China’s Ministry of Finance today announced that it will be raising the threshold for windfall taxes on oil and gas output starting January 1. The new threshold will be set at $65 a barrel, up $10 from $55 a barrel, …

December 29, 2014 - 4:50 pm International, Oil and Gas 360 Articles
Apache Corporation Sells Portion of Egypt Assets for $3.1 Billion to Sinopec

Apache Corporation Sells Portion of Egypt Assets for $3.1 Billion to Sinopec

Apache Corporation (ticker: APA) is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom, Australia and Argentina. It is one of the world’s top independent E&P companies and recently celebrated …

September 4, 2013 - 5:39 pm International, Oil and Gas 360 Articles, OPEC