Sinopec Company News
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Buyers Eye Sinopec's Argentina Oil Assets in Sale Worth Up to $1B - Sources
Monday, October 09, 2017 Two sources said the Sinopec assets would be a tough sell.
Shengli Oilfield Cuts Internet For Some Offices After Cyber Attack
Monday, August 21, 2017 Sinopec's Shengli Oilfield says it will cut its Internet connection for some of its offices, the company says.
Sinopec Engineering Arm Taps Asia Petrochemicals Growth
Monday, August 21, 2017 Sinopec Engineering won 17.8 billion yuan ($2.67 billion) of new contracts in the first half.
Sinopec To Invest $5B In Gas Pipeline For New Economic Zone
Tuesday, July 25, 2017 Sinopec will invest $5.1 billion in a gas pipeline project.
South Africa Wants Sinopec to Retain Refinery Capacity
Thursday, May 25, 2017 Sinopec will pay almost $1 billion for a 75 percent stake in Chevron's South African assets and its subsidiary in Botswana to secure its first major refinery in Africa, the companies announced in March.
China's Unipec Will Keep Reselling Term LNG Cargoes -President
Wednesday, May 17, 2017 Sinopec's trading arm resold more than 2 million tonnes of term cargoes of LNG last year and expects to sell more this year, president Chen Bo said on Wednesday.
China's Sinopec Buys First Major African Refinery In Chevron Deal
Wednesday, March 22, 2017 China's Sinopec agrees to pay almost $1 billion for a 75% stake in Chevron Corp's South African assets and its subsidiary in Botswana, securing its first major refinery on the continent.
China's Sinopec Close To Snapping Up Chevron's South African Oil Assets
Friday, March 17, 2017 China Petroleum and Chemical Corp (Sinopec) is nearing an agreement to buy a majority stake in Chevron Corp's South African assets.
Aramco's Malaysia Deal Gives Saudis Upper Hand In Fight For Asia Oil Share
Tuesday, February 28, 2017 Top global oil exporter Saudi Arabia broke from the pack in the race to lock up Asian market share after agreeing on Tuesday to pump $7 billion into a refinery-petrochemical complex in Malaysia.
China To Tender More Xinjiang Oil, Gas Blocks To Non-State Firms
Monday, January 23, 2017 China will auction about 30 oil and gas blocks in the northwestern region of Xinjiang this year to investors outside the top state energy firms, state media reported.
China's Sinopec Weighs Takeover Of Gulf Keystone
Tuesday, December 13, 2016 China's Sinopec Corp is weighing a takeover of Gulf Keystone Petroleum, an oil company operating in the Kurdistan region of Iraq, Bloomberg reported on Tuesday.
Sao Tome To Terminate Oil Block With Sinopec-Sonangol Joint Venture
Wednesday, December 07, 2016 Sao Tome and Principe has decided to terminate an oil concession granted to Sinoangol.
China Oil Output Drops To 6-Year Low As State Giants Shut Fields
Tuesday, September 13, 2016 China's crude oil output dropped to the lowest in more than six years as the country's state-run energy giants continued to pump less from aging, high-cost fields.
As Oil Giants Dally Over Glut, Asia Gets To Work On Output Cuts
Wednesday, September 07, 2016 As the world's biggest crude producers stop short of taking action to address the global oversupply, output cuts by their largest customers are helping to mop up the glut.
Sinopec Expects Profit from Argentina Unit if Oil Recovers
Friday, September 02, 2016 China's Sinopec says losses from its Argentina unit could be 'greatly reduced' if oil prices rise.
PETRONAS $8.5B Canada Gas Plan Buoyed By Aboriginal Vote
Monday, August 29, 2016 PETRONAS' proposed $8.5 billion liquefied natural gas export plant in Canada is getting a boost as an aboriginal community signals openness to the project amid speculation that the location may be changed.
Profit At China's Sinopec Slumps 21.6% In First Half
Monday, August 29, 2016 China Petroleum and Chemical Corp., or Sinopec, says its net profit fell 21.6 percent in the first half of 2016, hurt by a steep decline in international oil prices.
Iran Likely to Grant Development of 2 Oil Fields to China's CNPC, Sinopec
Wednesday, August 24, 2016 Iran is likely to grant the development of 2 major oil fields in the country's southwestern Khouzestan province to China's CNPC and Sinopec.
China Oil Giants Seen Soothing Investors With Post-Crash Payouts
Tuesday, August 23, 2016 China's biggest oil companies may use special dividends to soothe investors after the collapse in energy prices.
China Crude Output Falls To Five-Year Low In July
Friday, August 12, 2016 China's crude oil production in July fell 8.1 percent from a year ago to the lowest since October 2011 on a daily basis, as low prices limit the incentive to keep some wells operating in the world's fourth-largest oil producer.
Sinopec To Pay 29.8M Yuan In Compensation For Pipeline Blast
Friday, August 05, 2016 A Sinopec Corp subsidiary agrees to pay compensation of $4.5 million for damages caused by an explosion last month on a section of the Sichuan-East China natural gas pipeline.
Sinopec To Sell Gas Pipeline Stake To No More Than 15 Investors
Wednesday, August 03, 2016 China's Sinopec Corp will sell a stake in the Sichuan-East China gas pipeline to no more than 15 investors, the company says in an announcement in Beijing Equity Exchange.
China Pipeline Fire Kills Two, Cuts Gas Supplies
Wednesday, July 20, 2016 China's Sinopec has shut down a section of the Sichuan-East China gas pipeline in the country's central region after it was hit by a landslide and fire, killing two people.
Sinopec Subsidiaries Inflated 2014 Revenue By $3.04B
Thursday, June 30, 2016 Subsidiaries of China's second-largest energy company Sinopec inflate their 2014 revenue by $3.04 billion, according to a report published by China's auditing department.
Algeria Oil And Gas Output On The Rise
Sunday, June 26, 2016 Algeria's oil and gas output is moving back to growth after years of stagnation.
Sinopec Serves $5.5B Arbitration Notice To Repsol
Friday, June 17, 2016 Chinese energy conglomerate Sinopec serves an arbitration notice to Spain's Repsol demanding around $5.5 billion in compensation over a 2012 joint venture.
Sinopec Targets 15Bcm Annual Shale Gas Production Capacity In Chongqing
Monday, May 23, 2016 Sinopec is targeting annual shale gas production capacity of 15 billion cubic metres and annual shale gas output of 10 bcm in the southwestern city of Chongqing by 2020.
No Big Bang, But Quiet Reforms Reshaping China's Oil And Gas Sector
Thursday, May 12, 2016 Expect no radical "big bang" in China's shake-up of its giant state-run energy firms, but a series of experimental and incremental steps that Beijing has quietly embarked on may still bring meaningful change to an economically crucial sector.
CNOOC Overtakes Sinopec as China's Second-Biggest Oil Producer
Tuesday, March 29, 2016 Oil's plunge has reordered the pecking order among China's biggest explorers.
Canadian Agency Extends Application For Petronas LNG Project
Monday, March 21, 2016 Canadian regulators extended by three months PETRONAS' application to build a liquefied natural gas terminal on the nation's Pacific coast so the Malaysian company can provide more information about the project's environmental impacts.
Company Paper: China's Sinopec to Shut Four Oilfields at Shengli
Wednesday, February 17, 2016 China's Sinopec will shut four oilfields this year at Shengli in the eastern province of Shandong, according to a company newspaper.
Wood Mac: 2016 Promises Upstream Opportunities despite Tough Times
Thursday, January 28, 2016 A new report from oil and gas consultancy Wood Group shows that 2016 promises many opportunities around the world for the upstream sector in spite of challenging times.
Australia LNG Exports First LNG Cargo
Monday, January 11, 2016 Australia Pacific LNG exports its first liquefied natural gas cargo from the Curtis Island facility near Gladstone, Australia.
Sinopec Strikes High-Yielding Oil at China's Beibu Bay Test Well
Wednesday, January 06, 2016 Sinopec says it struck high-yielding oil and gas in a test well offshore Beibu Bay near China's southwestern coast, marking a rare offshore oil and gas find by the state firm that is largely focused onshore.
China Energy Giants Seek Last-Minute Sales in Year-End Countdown
Wednesday, November 25, 2015 China's biggest energy companies are seeking to unload assets and urging workers to cut costs in a last-minute rush to meet annual government-set growth targets as lower crude prices drag down earnings.
China's Oil Giants Lose Almost All Profits Amid Crude Crash
Friday, October 30, 2015 The plunge in crude prices all but killed profits at China's top energy producer and its largest oil refiner.
Govt Source: Beijing Firm Highest Bidder in Xinjiang Oil Tender
Tuesday, October 20, 2015 China's Beijing Energy Investment Holding Co Ltd., a local government-backed firm, submitted the highest bids for three oil and gas blocks in a rare tender issued by the Ministry of Land & Resources, a government source says.
China Investigates Former Sinopec Chairman for 'Discipline Violations'
Thursday, October 08, 2015 Chinese authorities have placed the governor of Fujian province, who is also the former chairman of Sinopec, under investigation on suspicion of "serious disciplinary violations", China's anti-graft watchdog says.
China Triples Proven Reserves at Top Shale Gas Project
Thursday, October 08, 2015 China has nearly tripled the size of proven reserves at its Fuling project, by far the country's largest shale gas find, according to an official from investor Sinopec and an industry report.
As China Gas Boom Falters, State Giants Grapple with Wave of Imports
Friday, October 02, 2015 China's energy giants are being forced to sell a glut of the fuel to buyers in other countries as soaring demand grinds to a halt.
China to Carve Out New Oil, Gas Pipeline Firm from State Oil Giants
Thursday, September 24, 2015 China plans to create a new crude oil and liquefied natural gas pipeline transportation company, according to a report in the China Securities Journal.
Former Sinopec Executive to be Prosecuted for Graft
Friday, September 18, 2015 A former general manager of Chinese energy giant Sinopec Group has been expelled from the Communist Party and will be prosecuted for crimes, including bribery and abuse of power, the party's anti-corruption watchdog says.
China Curbs Conventional Gas Output, Keeps Shale Target
Thursday, September 10, 2015 China's state energy giants are reducing output from conventional natural gas fields as demand growth for the fuel eases to a multi-year low, local media and sources say.
Rosneft, Sinopec Agree on Joint Development of Russian Fields
Thursday, September 03, 2015 Rosneft and Sinopec agree to work together on the development of the Russian Russkoye and Yurubcheno-Tokhomskoye fields.
Canadian Oil Sands Halts Syncrude Production After Fire, Prices Spike
Monday, August 31, 2015 Canadian Oil Sands Ltd halts crude oil production after a fire damaged equipment at its processing facility in northern Alberta.
Profits At Two Chinese Oil Majors Slump On Low Crude Price
Wednesday, August 26, 2015 Two of China's major oil companies say that their profits slumped in the first half of 2015, as a sharp decline in international crude prices hit upstream earnings.
Sinopec Buys Kazakh Oil Assets From Lukoil for $1.09B
Thursday, August 20, 2015 China Petroleum & Chemical Corp. complete the purchase of a 50% stake in a Kazakh oil producer from Lukoil for $1.09 billion.
China's Petro-king Lands $7.7M Contracts from Sinopec, Beijing Jiuzun
Monday, August 03, 2015 China's Petro-king Oilfield Services lands $7.7 million contracts from Sinopec Northern China and Beijing Jiuzun.
Sources: China's Sinopec in Major Shakeup of Overseas Unit
Friday, July 31, 2015 Sinopec is relocating nearly 40 percent of its staff in its global exploration and production unit back to its headquarters, in a major shakeup aimed at cutting costs and boosting efficiency, company sources say.
China State Firms to Start Pumping New Oil in Iran
Friday, July 31, 2015 China's state oil giants are set to start pumping a combined 160,000 barrels per day at two projects in southwestern Iran from around October, according to sources.