0386.HK - China Petroleum & Chemical Corporation

HKSE - HKSE Delayed Price. Currency in HKD
4.620
-0.090 (-1.91%)
As of 3:14PM HKT. Market open.
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Previous Close4.710
Open4.670
Bid4.620 x 0
Ask4.630 x 0
Day's Range4.610 - 4.700
52 Week Range4.550 - 8.030
Volume89,319,062
Avg. Volume86,305,767
Market Cap640.161B
Beta (3Y Monthly)1.17
PE Ratio (TTM)7.97
EPS (TTM)0.580
Earnings DateN/A
Forward Dividend & Yield0.59 (12.59%)
Ex-Dividend Date2019-05-31
1y Target Est8.36
  • China's petrochemical expansion to overwhelm Japan, South Korea producers
    Reuters

    China's petrochemical expansion to overwhelm Japan, South Korea producers

    SINGAPORE/TOKYO (Reuters) - A massive surge in China's manufacturing capacity for paraxylene, a petrochemical used to make textile fibres and bottles, could force leading exporters in Japan and South Korea to cut production as early as the second quarter of 2020. China will add about 10 million tones of paraxylene manufacturing capacity from March 2019 to March 2020, according to company reports and officials, that is enough for making 22 trillion 500-millilitre plastic bottles. The world's top consumer of paraxylene (PX), China imports 60% of its need for the chemical to feed polyester demand that has more than doubled since 2010.

  • Oil Refiners Go From Profit Pain to Gain on Ship-Fuel Rules
    Bloomberg

    Oil Refiners Go From Profit Pain to Gain on Ship-Fuel Rules

    (Bloomberg) -- The imminent overhaul of global ship-fuel regulations is finally delivering a long-awaited benefit to Asian oil refiners.Profits from turning crude into diesel in the second half of 2019 are forecast to be about 31% higher than the first six months, according to Goldman Sachs Group Inc. Margins have already expanded around 40% since late April as International Maritime Organization rules that prohibit ships from using dirty fuel from Jan. 1 are set to bolster diesel demand, while cutting fuel oil use.It’s taken a while though. In the first half of the year, margins were in freefall as a slew of refinery startups in Asia flooded the market and the trade war between Washington and Beijing weighed on demand. Refiners in China, South Korea and Taiwan were forced to reduce operating rates due to poor margins and a fuel glut. Output cuts from OPEC+ also squeezed the flow of heavier crude, raising the costs for many Asian buyers that rely on Middle Eastern oil.“Diesel will be a beneficiary of the transition,” Nikhil Bhandari, an analyst at Goldman, said by phone. “The impact of IMO 2020 to the spot refining margins we believe will start from the fourth quarter of this year.”See also: Fitch Solutions Sees Large Spike in Diesel Price Due to IMO 2020The new IMO rules have been in the pipeline since 2016, but have started to throw oil markets around the world into disarray as they draw near. Goldman described the transition as one of the largest one-time reductions in sulfur specification in the history of energy fuel markets. While shippers will still be able to use dirty fuel if they add special pollution kits, many are adopting a wait-and-see mode to installing the equipment.Diesel MarginsIn Singapore, diesel crack spreads are forecast to average $17.60 a barrel during the second half of the year, compared with $13.40 during the first six months, according to Goldman, provided the global economy doesn’t fall into recession and crimp demand. Diesel cracks are forecast to improve further to about $19 in 2020, according to Sanford C. Bernstein & Co. Profit margins from cracking Dubai oil into diesel was at $16.14 at 4:30 p.m. Singapore and has averaged $16.39 so far this month.Tighter gasoline supply will also support an overall improvement in Asian refining margins, Goldman said. Heavy residue like vacuum gasoil can be used more as IMO-compliant fuels, meaning less volumes will be cracked into gasoline, the bank said.China’s biggest refiner China Petroleum & Chemical Corp., or Sinopec, and India’s Reliance Industries Ltd., are among Asian processors that are poised to benefit from IMO 2020, according to Bernstein. Sinopec’s margins are likely to be boosted by about 40% next year from the second quarter.Improving margins are also starting to boost demand for low-sulfur crudes with a high diesel yield. A shipment of Russia’s Sokol was recently sold at about $5.80 a barrel premium to its benchmark price, the strongest since May, while an Australian Pyrenees grade was sold at a premium of about $14.50, compared with early-2017 when it traded as low as $1.60.“Gasoil has been strong in Asia and Chinese domestic margins are also picking up,” said Senthil Kumaran, Singapore-based senior oil analyst at industry consultant FGE. “Refining margins are robust, encouraging refiners to run at elevated levels in the coming quarters.”(Updates with diesel cracking margin price in sixth paragraph.)To contact the reporter on this story: Sharon Cho in Singapore at ccho28@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Ben SharplesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Despite Its High P/E Ratio, Is China Petroleum  Chemical Corporation (HKG:386) Still Undervalued?
    Simply Wall St.

    Despite Its High P/E Ratio, Is China Petroleum Chemical Corporation (HKG:386) Still Undervalued?

    Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll show how you can...

  • China refiners curb fuel output after massive new plants stoke glut
    Reuters

    China refiners curb fuel output after massive new plants stoke glut

    SINGAPORE/BEIJING (Reuters) - China's fuel producers are making extended curbs to their output in the third quarter after supply from mammoth new refineries stoked an already-sizeable glut, potentially dragging on crude oil demand from the world's biggest importer of the commodity. Private refiner Hengli Petrochemical ramped up its 400,000-barrels per day (bpd) plant in northeast China to full capacity in May, while Zhejiang Petrochemical began trial runs around the same time at a similar-sized refinery on the east coast. The swollen surplus of fuel products could also send China's fuel exports surging to new highs and further pinch Asian refining profits.

  • Here is What Hedge Funds Think About China Petroleum & Chemical Corp (SNP)
    Insider Monkey

    Here is What Hedge Funds Think About China Petroleum & Chemical Corp (SNP)

    Legendary investors such as Jeffrey Talpins and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don't publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That's why we analyze the […]

  • World's Top 10 Oil Producers (SNP, RDS-A)
    Investopedia

    World's Top 10 Oil Producers (SNP, RDS-A)

    China's two state-owned giants lead the list of top 10 global oil producing companies during the first six months of 2016.

  • China Petroleum & Chemical Corporation (HKG:386): Is It A Smart Long Term Opportunity?
    Simply Wall St.

    China Petroleum & Chemical Corporation (HKG:386): Is It A Smart Long Term Opportunity?

    In March 2019, China Petroleum & Chemical Corporation (HKG:386) released its earnings update. Generally, analysts seem...

  • New bipartisan bills threaten Chinese IPOs and Chinese companies listed in the U.S.
    Yahoo Finance

    New bipartisan bills threaten Chinese IPOs and Chinese companies listed in the U.S.

    Two bipartisan bills have been introduced over the last few months aimed at going after Chinese companies that don’t comply with auditing rules in the U.S.

  • Reuters

    UPDATE 1-U.S. must have access to U.S.-listed Chinese firms' audit documents, lawmakers say

    WASHINGTON/HONG KONG, June 5 (Reuters) - A bipartisan group of U.S. lawmakers introduced a bill on Wednesday to force Chinese companies listed on American stock exchanges to submit to regulatory oversight, including providing access to audits or face delisting. Chinese authorities have long been reluctant to allow overseas regulators to inspect local accounting firms - including member firms of the Big Four international accounting networks - citing national security concerns. In spite of a 2013 agreement that ended a stalemate over the issue and allowed U.S. regulators to request audit working papers in China, there have been difficulties in actually gaining access.

  • Reuters

    Oil traders sell dirty Russian crude to Asian buyers

    SINGAPORE/MOSCOW (Reuters) - Trading companies Vitol and Unipec are sending around 700,000 tonnes (5.1 million barrels) of contaminated Russian oil to Asia in an attempt to place the barrels rejected by buyers in Europe, according to trading sources and ship tracking data. Vitol has sold its cargo to Chinese independent refiner Bora Group while Unipec is moving the oil to refineries in China owned by its parent company China Petroleum and Chemical Corp (Sinopec), the sources said. The vessels heading to China include the 130,000-tonne Suezmax tanker, Sonangol Rangel, that loaded oil from Denmark's Skaw ship-to-ship transfer area on May 15.

  • What does China Petroleum & Chemical Corporation's (HKG:386) Balance Sheet Tell Us About Its Future?
    Simply Wall St.

    What does China Petroleum & Chemical Corporation's (HKG:386) Balance Sheet Tell Us About Its Future?

    The size of China Petroleum & Chemical Corporation (HKG:386), a HK$728b large-cap, often attracts investors seeking a...

  • PR Newswire

    China Petroleum & Chemical Corporation Files 2018 Annual Report on Form 20-F

    BEIJING , April 30, 2019 /PRNewswire/ -- China Petroleum & Chemical Corporation ("Sinopec Corp." or "the Company") (HKEX: 00386; SSE: 600028; NYSE: SNP) announced that it has filed ...

  • PR Newswire

    Sinopec's Net Profit for 2019 Q1 reached RMB15.468 Billion

    Exploration and Production segment returned to profitability; Marketing and Distribution segment maintained brisk growth BEIJING , April 30, 2019 /PRNewswire/ -- China Petroleum & Chemical Corporation ...

  • Some China Petroleum & Chemical (HKG:386) Shareholders Are Down 19%
    Simply Wall St.

    Some China Petroleum & Chemical (HKG:386) Shareholders Are Down 19%

    It's easy to match the overall market return by buying an index fund. But if you buy individual stocks, you can do both better or worse than that. For example, the China Petroleum & Chemical Corporation (HKG:386) share price...

  • Reuters

    Shell enters China's shale oil scene with joint study with Sinopec

    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 the initial stages of developing its vast shale gas resources, with production last year making up just 6 percent of total gas output after more than a decade of work. China's shale oil is at an even more basic phase due to challenging geology and hefty development costs, experts said.

  • Shareholders Should Look Hard At China Petroleum & Chemical Corporation’s (HKG:386) 7.7% Return On Capital
    Simply Wall St.

    Shareholders Should Look Hard At China Petroleum & Chemical Corporation’s (HKG:386) 7.7% Return On Capital

    Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Today we'll evaluate China Petroleum & Chemical Corporation (HKG:386) to determine whether it could have potential as an invest...