|Bid||0.00 x 800|
|Ask||0.00 x 3100|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|Beta (3Y Monthly)||1.49|
|PE Ratio (TTM)||7.21|
|Forward Dividend & Yield||6.21 (9.55%)|
|1y Target Est||93.10|
While China's efforts to increase output may offset production decline from aging oilfields, it is not likely to reduce its dependence on foreign oil and gas imports.
(Bloomberg) -- Saudi Aramco, the world’s largest crude exporter, awarded $18 billion in contracts to boost output capacity at two offshore oil fields even as the kingdom and its OPEC partners restrict production.Saudi Arabia’s state oil company will add a combined 550,000 barrels a day of crude-production capacity at its Marjan and Berri fields, it said Tuesday in a statement. It will raise capacity for natural gas output at the deposits by 2.5 billion standard cubic feet a day. Aramco awarded 34 contracts, with half of them going to Saudi firms, according to the statement.McDermott International Inc., Saipem SpA of Italy, Norway-listed Subsea 7 SA, Tecnicas Reunidas SA of Spain and China Petroleum & Chemical Corp. were among the companies that won contracts, according to a photo that Aramco provided of the signing ceremony. India’s Larsen & Toubro Ltd. and Hyundai Engineering & Construction Co. of South Korea also secured deals.The statement itself didn’t identify the 16 companies that were awarded contracts, nor did it specify when the Marjan or Berri projects would be completed.Spare CapacityAramco, known officially as Saudi Arabian Oil Co., plans to bring about 1 million barrels a day of oil capacity online by 2023 in order to compensate for reductions at some other fields. Aramco plans to maintain production capacity of 12 million barrels a day even though it regularly pumps about 10 million barrels daily.Saudi Arabia, with the world’s biggest reserves of conventional crude, has long drawn on its prolific deposits to help balance global oil markets. Riyadh seeks to keep some spare capacity ready and available for rapid use in order to respond quickly to any shortages. The Organization of Petroleum Exporting Countries and allies including Russia agreed this month to extend production cuts into 2020 to try to prop up prices amid surging U.S. supplies.“These two programs will significantly enhance Saudi Aramco’s oil production and gas processing capabilities,” Chief Executive Officer Amin Nasser said in the statement. The field expansions will help meet “growing long-term demand for petroleum,” he said.Marjan’s development will add capacity of 300,000 barrels a day of Aramco’s Arabian Medium crude blend, according to the statement. The Berri project will contribute 250,000 barrels a day of additional capacity for Arabian Light crude. Aramco produces more Arabian Light than any other grade.(Updates with names of contract winners in third paragraph.)To contact the reporter on this story: Anthony DiPaola in Dubai at email@example.comTo contact the editors responsible for this story: Nayla Razzouk at firstname.lastname@example.org, Bruce Stanley, Mohammed Aly SergieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.
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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.
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.
Exporting natural gas by setting up large liquefication plants is a very capital-intensive undertaking, with each unit running up multi-billion-dollar bills.
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.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of China Petroleum and Chemical Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
[Editor's note: This story was previously published in January 2019. It has since been updated and republished.]Even though things have gotten back to normal since the beginning of the year, concerns about volatility still weigh on many people's minds. While there's often more reward when you take risk, there's also nothing wrong with safe, reliable bets to get you through the tough times as well. * 7 Stocks to Buy That Ought to Buy Back Shares Below are 10 A-rated stocks that the smart money is piling into. That means all score A ratings for Momentum in my Portfolio Grader, and there is significant activity in buying by institutional investors.InvestorPlace - Stock Market News, Stock Advice & Trading Tips ServiceNow (NOW)ServiceNow Inc (NYSE:NOW) is the next iteration of CRM-focused systems, but it is all cloud-based. Also, it has a deeper amount of architecture and design ability that many customer resource management systems don't have.It has a solid $34 billion market cap, which means that it has a sizable enterprise-level client base and it is no longer and spry up-and-comer. It is a respectable provider of cloud computing solutions.The stock is up 63% in the past 12 months, and up 52% this year.If the economy stays strong and the various trade wars get worked out, NOW has plenty of potential in and beyond 2019.Source: SarahTz Via Flickr China Petroleum & Chemical Corp ADR (SNP)China Petroleum & Chemical Corp ADR (NYSE:SNP) is better known in the West as Sinopec. It's the largest oil and petrochemical products supplier in the world. It's the second-largest oil and gas producer in China, the largest refining company and the second-largest chemical company in the world. And its total number of gas stations put it at No. 2 in the world.Suffice it to say, it's a major integrated energy company. And the crazy thing is, it only started in 1998. Most massive energy companies hark back to exploration and production in the 1800s. * 7 A-Rated Stocks That Are Under $10 Sinopec has grown massively since its founding and it has now come to experience a downturn in the energy patch for the first time since its ascent. And the volatility is still present.So far this year, SNP is up more than 7% and delivering a solid 8.14% dividend. Source: Shutterstock Veeva Systems (VEEV)Veeva Systems Inc (NYSE:VEEV) has a unique niche that will pay off handsomely over the coming years. Don't get me wrong, it's doing well now -- the stock is up more than 100% in the past 12 months and 62% in 2019 -- but it is becoming the major player in a niche that will only grow.It specializes in creating cloud-based software solutions for the life sciences industry.That may not sound very sexy, but when you consider the graying of the populations in developed nations, the demand for better healthcare in China, India and beyond, you have a lot of potential. And VEEV is the top player.Source: Shutterstock Ecopetrol SA ADR (EC)Ecopetrol SA ADR (NYSE:EC) is the largest energy company in Colombia. While that may not sound incredibly impressive, Colombia has a lot of major exploration and production (E&P) companies there.What's more, given the implosion of major South American producer Venezuela and the political turmoil in Brazil, Colombia is a steady, reliable energy partner.In the past, E&P was tough because there was a low-intensity civil war going on and a significant drug trade that was all happening in the same parts of the country. * 7 Cloud Stocks to Buy Now But now that's past, and the rebels are negotiating with the government. The government is more stable and predictable and energy prices are on the rise. All good news for EC.Up 12.5% since 2019 began, it also offers a respectable 7.8% dividend.Source: Shutterstock Abiomed Inc (ABMD)Abiomed Inc (NASDAQ:ABMD) is a stock that I have been singing the praises of for a while now. It is a specialized company that is the leader in a technology that is going to increase in demand globally for many years to come.What's more, its $15 billion market cap means it can grow organically or, it is the perfect size for a major healthcare firm to snap it up at a significant premium and just plug it into its broader scope of products.Either way, investors will be well rewarded.ABMD make the smallest heart pump in the world. And given the fact that developed nations are seeing baby boomers gray, this type of device is only going to grow in demand. Be warned, it gave back every gain from last year and 10% more, but coming into earnings this stock is ready to pop.Source: IDelearn via YouTube Tableau Software (DATA)Tableau Software Inc (NASDAQ:DATA) as you may have guessed by its ticker symbol specializes in business intelligence and data analytics software. Basically, that means you can take your company's data and create data visualizations and explore data in a number of ways that previously would have taken experts to build and deliver. * 7 Dividend Stocks That Could Double Over the Next Five Years It's a niche company that offers a powerful tool for enterprise and smaller businesses looking to get more from their data and allow their people to understand more about the numbers.Up more than 40% in the past 12 months, it's off to a slow start so far this year, but has big prospects.Source: Web Summit Via Flickr Twilio (TWLO)Twilio Inc (NYSE:TWLO) is a cloud-based communications platform built for developers.One of the new forms of delivering services to consumers is with application program interfaces (APIs). Here's a metaphor to help you understand the power of APIs in our new app-driven world. Say you're a customer in a restaurant.The API is the server and the company you are communicating with is the chef. The server asks for your order. You tell them, and they deliver it to the chef. When your request is ready, it comes to you.This is how all apps work and TWLO is one of the biggest players in this space.Up a whopping 223% in the past 12 months, it has plenty of room to grow. Sarepta Therapeutics (SRPT)Sarepta Therapeutics Inc (NASDAQ:SRPT) is a biopharmaceutical company that specializes in rare neuromuscular diseases (like Duchenne Muscular Dystrophy, or DMD) using gene therapy and other therapeutics.The stock was up more than 60% in the past 12 months and is up 14% already in 2019. Much of that is about its strong earnings and the progress it's making on its new drugs. It's expecting to bring three RNA-based drugs to market in 2020 and capture about 30% of the DMD market. * 7 Tech Stocks With Too Much Risk, Not Enough Upside There's a growing demand for effective drugs that can treat chronic diseases, SRPT is well positioned for growth or a buyout at a significant premium.Source: OFFICIAL LEWEB PHOTOS via Flickr Zendesk (ZEN)Zendesk Inc (NYSE:ZEN) is part of the new boom in omnichannel customer service support. Essentially, that means ZEN provides an online platform to integrate a company's customer service so that it is available for all departments to see and follow up on.Nowadays there are numerous channels for customers and potential customers to use for feedback, follow-ups, queries, etc. ZEN provides companies with an efficient way for a customer's email query to get linked to their interaction with a chatbot and the phone call they made the other week.Customer resource management is a big deal and numerous companies are now carving up that market and disrupting it. ZEN is succeeding in doing just that.Up 81% in the past 12 months, it's off to a strong start in 2019 as well, up 58%.Source: Bixentro via Flickr Match Group (MTCH)Match Group (NASDAQ:MTCH) is the parent company of some of the most well-known sites on the web. It owns dating sites Tinder, Match, PlentyOfFish, Meetic, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24.It also has a division that is focused on education services like test preparation, academic tutoring and college counseling services.Its products are in 42 languages and available in 190 countries. * 5 Dividend Stocks Perfect for Retirees The power of this focused social media business is the fact that it has hundreds of millions of people that use or have used its services and that means it has huge amounts of data to cross-promote its own services as well as rent that data to others.Up 30% in the past 12 months and 45% this year, this social matchmaking company is much closer to its beginnings than its end.Louis Navellier is a renowned growth investor. He is the editor of four investing newsletters: Growth Investor, Breakthrough Stocks, Accelerated Profits and Platinum Growth. His most popular service, Growth Investor, has a track record of beating the market 3:1 over the last 14 years. He uses a combination of quantitative and fundamental analysis to identify market-beating stocks. Mr. Navellier has made his proven formula accessible to investors via his free, online stock rating tool, PortfolioGrader.com. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks You Can Set and Forget (Even In This Market) * 10 Virtual Assistants for the Future of Smart Homes * 7 5G Stocks to Buy as the Race for Spectrum Tightens Compare Brokers The post 10 A-Rated Stocks the Smart Money Is Piling Into appeared first on InvestorPlace.
The Beijing-based company said it had net income of $1.81 per share. Earnings, adjusted to account for extraordinary items, came to $1.76 per share. The energy and chemical company posted revenue of $106.34 ...
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 ...
Exploration and Production segment returned to profitability; Marketing and Distribution segment maintained brisk growth BEIJING , April 30, 2019 /PRNewswire/ -- China Petroleum & Chemical Corporation ...