China Petroleum & Chemical Corp fka SNPTY

[Renee]

SNP changed to SNPTY. Delisted from the NYSE to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

[Alice-N-Wonderland]

A pause in memory – China mourns martyrs, victims of COVID-19

[benfrankledger]

With planned output of ~20M metric tons/year, Alaska LNG would need to sign several major offtake deals, likely with customers beyond just China, before it can secure financing for construction, analysts say.

[benfrankledger]

“This is a typical announcement that comes out of these big summits,” lacking any details on financing or how much LNG might be purchased and for how long, says Jason Feer of energy consultancy Poten & Partners.

[benfrankledger]

Analysts are skeptical that a preliminary agreement with China's Sinopec (SNP -0.8%) for the $43B development of a major liquefied natural gas export project in Alaska will ever come to fruition, announced yesterday during Pres. Trump's visit to Beijing.

[eFinanceMarkets]

$SNP China's crude oil imports to top 400M tons this year, Sinopec exec says

China's crude oil imports will exceed 400M metric tons this year, according to a Sinopec (SNP -0.6%) VP, which likely would make China the world's largest crude oil importer on an annual basis for the first time.

For the first six months of 2017, China imported 212M metric tons of crude, or 8.55M bbl/day, up nearly 14% Y/Y, as continuing low prices and declining domestic production prompt increased overseas purchases.

The expectation of strong Chinese demand for imports holding through the rest of the year comes despite plans by state oil majors (PTR, CEO) to shut down 10% of the country's refining capacity in Q3 due to a glut of fuel products.

[eFinanceMarkets]

Reuters: China creating state-led consortium for Saudi Aramco IPO

China is creating a consortium, including state-owned oil firms Sinopec (SNP -1.2%) and PetroChina (PTR -0.7%) as well as the country's $800B sovereign wealth fund, that will act as a cornerstone investor in Saudi Aramco's expected IPO next year, Reuters reports.

The planned Chinese investment would make it more likely that Aramco would seek a listing in Asia, with Hong Kong currently the front-runner among bourses in the region, according to the report.

Saudi authorities plan to list up to 5% of Aramco on the Saudi stock exchange in Riyadh and one or more international markets.

[$Pistol Pete$]

$SNP Daily and Weekly Charts

[Timothy Smith]

China has nearly tripled the size of proven reserves at its Fuling project, by far the country's largest shale gas find, according to a Sinopec (NYSE:SNP) official.

The Jiaoshiba block of the project in southwest China reportedly has 273.8B cm of newly proven reserves, which would take total proven reserves at Fuling to 380.6B cm, giving it the potential to have an annual production capacity of 10B cm by year-end 2017.

[Timothy Smith]

Russia's Rosneft (OTC:RNFTF) has signed documents with China worth more than $30B to jointly develop oil and gas fields in Russia, company president Igor Sechin says.

Under the agreement, Sinopec (NYSE:SNP) has the right to buy a 49% stake in its subsidiaries that hold the exploration licenses for the Russkoye and Yurubcheno-Tokhomskoye fields, part of an agreement on cooperation within the proposed joint development of the two oil fields.

Rosneft also says it reached a preliminary agreement for the potential acquisition of a 30% stake in a ChemChina subsidiary.

[Timothy Smith]

SNP's total H1 oil and gas production fell 1.8% Y/Y to 233M boe, driven lower by falling domestic crude production; H1 refinery throughput rose 2.7% to 118.9M metric tons.

[Timothy Smith]

Sinopec (NYSE:SNP) says its H1 net profit fell 22% Y/Y to 25.39B yuan ($3.96B) from 32.5B yuan a year earlier, as sharply lower crude oil prices hurt upstream earnings.

[Timothy Smith]

Sinopec (SNP -1.1%) says it expects an 11-fold Q/Q increase in its net profit during Q2, which has halted the shares in Hong Kong trading.

[Timothy Smith]

Sinopec (NYSE:SNP) will delay by several years a nearly $1B oil storage terminal in Indonesia, touted to be Southeast Asia's largest, due to slow demand for tank space, Reuters reports, citing industry sources.

[ICEQUITY]

SNP part of "China’s Energy Growth Momentum"
http://editorial.equities.com/china-stocks/china%E2%80%99s-energy-growth-momentum/

[bacchman]

Hi, new here. Am following certain chemicals. Do you guys think it's a good time to get in on this one?

[*MARINE 1*]

Sinopec Corp: Eyes Parent's Overseas Assets, Addax Petroleum
Date : 08/24/2009 @ 5:24AM ...........SNP

[mannyman]

Up by over $3.50????????????


Oh my goodness!!!!

[frenchee]

Asia's largest refiner by capacity, Sinopec is a petrol-octopus, with tentacles reaching into every facet of oil: From exploration and development to marketing, distribution, storage, trading and petrochemical production.

Sinopec has around 3.3 billion barrels of crude oil along with almost 2.9 trillion cubic feet of natural gas.

Sinopec is trading around $109 a share. That's more than double its 2006 low, but down about $65 — or 36% — from its recent high. The stock's P/E is just 10.73, and the company's five-year earnings per share growth has been better than 25%.

[*MARINE 1*]

SNP still going strong, Great!!!!

[analogdog]

Time for move....

[*MARINE 1*]

SNP kicked in really well today for those who care

[*MARINE 1*]

SNP making money..........called it this morning!!!

[analogdog]

ready for launch.

[frenchee]

SNP looks like it's starting to turn the corner...

[analogdog]

Volatile gapper on downtrend.