FINWIRES · TerminalLIVE
FINWIRES

HKG:0386

19 stories mentioning HKG:0386Updated 6d ago

Every FINWIRES story that references HKG:0386, newest first.

What's the latest news on HKG:0386?

Asia

Sinopec Renews Mutual Supply Deal With Controlling Shareholder; Shares Up 4%

China Petroleum & Chemical (HKG:0386, SHA:600028), or Sinopec, renewed its mutual supply agreement with its controlling shareholder, China Petrochemical Corporation, for another year, according to a Hong Kong bourse filing on Monday.The petroleum company's Hong Kong shares jumped 4%, while Shanghai shares rose 2% during Tuesday's morning trade.The deal, which was first signed in 2000, will be extended to Dec. 31, 2027.Both parties will continue supplying each other with services and products, such as crude oil, natural gas and utilities.

HKG:0386SHA:600028
Asia

EU Commission Clears Sinopec-INEOS JV

The European Commission has approved the creation of a joint venture between Switzerland-based INEOS and China Petroleum & Chemical (SHA:600028, HKG:0386), or Sinopec.The joint venture will mainly operate in the high-density polyethylene sector.The Commission said the deal does not raise competition concerns because of its limited impact on the European Economic Area.

HKG:0386SHA:600028
Asia

Market Chatter: Sinopec Sees Brighter Refined Fuel Outlook Despite Headwinds

China Petroleum & Chemical (SHA:600028, HKG:0386), or Sinopec, expects refined oil demand pressure to ease in late 2026, with earnings likely to beat forecasts, Nikkei Asia reported Monday.The company said that while domestic fuel consumption may decline 8% year on year in the second half, the drop should narrow from the 8.6% contraction seen earlier this year, according to the report.Following the effective closure of the Strait of Hormuz in March, Chair Hou Qijun said the refiner has pivoted to African and South American crude, diversified its product slate, and recalled 11 vessels previously stuck in the Gulf, Nikkei Asia wrote.Sinopec plans to invest RMB 30 billion in new-energy businesses, aiming for green operations to contribute one-third of revenue by 2035, according to the report.Shares of the company rose 1% in recent trade on the Shanghai and Hong Kong bourses.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0386SHA:600028
Sinopec's First-Half Profit Jumps 19% as Refining Margin Growth Offsets Low Fuel Demand
US Markets

Sinopec's First-Half Profit Jumps 19% as Refining Margin Growth Offsets Low Fuel Demand

China Petroleum & Chemical (SHA:600028, HKG:0386), or Sinopec, reported a double-digit jump in net profit in the first half of the year, as the growth in its refining margin offset a sharp downturn in fuel demand.Attributable net profit jumped 19% to 25.6 billion yuan, or 0.212 yuan per share, according to a Hong Kong bourse filing late Friday.Revenue rose modestly by 2% to 1.437 trillion yuan. Sinopec attributed the soft rise in revenue to weak demand for domestic refined oil products and chemicals amid high oil prices brought about by geopolitical conflicts.Sinopec's refining segment became the company's second-strongest profit engine during the first half after booking a 381.5% year-over-year jump in operating profit to 17.02 billion yuan, surpassing the company's marketing and distribution segment, which previously was the second-largest.The company's refining margin was 453 yuan per tonne in the first half, up 44% year over year. Sinopec attributed the growth to significant improvements in the margins of products like kerosene, naphtha and refining by-products. These offset the impact of higher purchase premiums and freight costs of imported crude oil.Demand for natural gas, however, slowed in the first half due to high oil prices and as customers turned to new energy products, Sinopec said. Refined oil products consumption slipped 8.6% year over year, with gasoline consumption falling 7.9% and diesel purchases falling 11.5%.For the second half, Sinopec expects demand for natural gas to rise. In contrast, it projects a drop in demand for chemical products and refined oil products amid the transition into alternative energy."Given the impacts of geopolitics and changes in the global supply, demand and inventory, there will be greater uncertainties in international crude oil prices," Sinopec said.Sinopec declared an interim dividend of 0.105 yuan per share payable in cash on or before Oct. 14 to shareholders on record as of Sept. 29.

HKG:0386SHA:600028
Asia

China Petroleum & Chemical's Profit Rises 19% in H1

China Petroleum & Chemical's (HKG:0386, SHA:600028) profit attributable to owners of the parent rose 19.3% in the first six months of 2026 to 25.6 billion yuan from 21.5 billion yuan a year ago, according to a Monday filing to the Hong Kong stock exchange.Earnings per share in H1 rose to 0.212 yuan from 0.177 yuan a year earlier, the state-owned refiner said.Operating revenue also increased 2% to 1.436 trillion yuan from 1.409 trillion yuan a year ago.The company declared an interim dividend of 0.105 (tax inclusive) per share, to be paid in cash on Sept. 29.

HKG:0386SHA:600028
Equities

Market Chatter: Sinopec Boosts Purchases of Russian Oil Amid Middle East War

China Petroleum & Chemical (HKG:0386, SHA:600028), d/b/a Sinopec, increased its purchases of Far East ​Russian oil to offset reduced Middle East supplies caused by the war, Reuters reported Thursday, citing trade sources and ship-tracking data.The state-owned refiner purchased 30 to 40 cargoes of Russia's Eastern Siberia-Pacific Ocean (ESPO) blend for July through September delivery, equivalent to about 241,000 to 320,000 barrels per day, or 5% to 6% of its 5.2 million-barrel-per-day refining capacity, the report said.Ship-tracking data from Vortexa Analytics showed Sinopec secured about 7.4 million barrels of ESPO crude in July. The refiner has also purchased at least 10 cargoes each for August and September delivery, Reuters reported.Sinopec did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0386SHA:600028
Asia

Market Chatter: Chinese Traders Expediting Russian Crude Purchases as Middle East Tensions Rise

Chinese oil buyers, led by China Petroleum & Chemical or Sinopec (HKG:0386, SHA:600028) unit Unipec, are rushing to purchase Russian ESPO oil amid an escalation of tensions in the Middle East, Bloomberg reported Friday, citing traders familiar with the market.August shipments from the Russian Pacific port city of Kozmino have run out, while September cargoes are loading faster than usual, the report said, citing the traders.Russian ESPO, or Eastern Siberia-Pacific Ocean oil, is being sold at a discount of about $1 per barrel to ICE Brent crude from up to $4 two weeks ago, Bloomberg said.Unipec parent Sinopec did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0386SHA:600028
Asia

Sinopec Reports Flat H1 Crude Oil Output

China Petroleum & Chemical (SHA:600028, HKG:0386), or Sinopec, said it produced 139.9 million barrels of crude oil in the first half of 2026, down 0.1% from 140 million barrels a year prior.Natural gas production climbed 0.7% year-on-year to 741.6 billion cubic feet, according to a Hong Kong bourse filing Thursday.Meanwhile, domestic sales of refined oil products dropped 9.2% year on year to 79 million tonnes, figures showed.

HKG:0386SHA:600028
Asia

China Central SOEs Step Up Share Buybacks, Stake Purchases to Steady Capital Markets

China central state-owned enterprises have unveiled share repurchase plans or major shareholder stake increases, signaling strong confidence in their valuations and the broader market.China Three Gorges Renewables (SHA:600905) announced its controlling shareholder will acquire 1.5 billion to 3 billion yuan worth of shares via open-market purchases over the next year. Metallurgical Corp. of China (SHA:601618, HKG:1618) has repurchased over 146 million A-shares costing 415.4 million yuan and 25 million H-shares. Sinopec (SHA:600028, HKG:0386) bought back approximately 77.9 million A-shares since mid-June, totaling 365.4 million yuan.The moves align with regulatory efforts to stabilize capital markets. China's securities regulator will soon hold symposiums with securities firms, fund managers and listed companies to gather input for future policymaking.

Shanghai Composite^SZSEHKG:0386HKG:1618SHA:600028SHA:600905SHA:601618
Asia

Market Chatter: China LNG Importers Looking to Reduce Reliance on Qatar

Chinese liquefied natural gas importers, including China Petroleum & Chemical Corp (HKG:0386, SHA:600028) and PetroChina (HKG:0857, SHA:601857) are in talks with exporters from outside the Persian Gulf to reduce reliance on Qatar amid the ongoing war, Bloomberg reported Friday, citing people with knowledge of the matter.The two companies are looking to sign LNG contracts with other countries, including Canada, that would start before 2030 and would last at least 10 years, according to the report.The pivot could signal that the disruptions in the Strait of Hormuz could reshape the LNG market, Bloomberg said.Sinopec and PetroChina did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0386HKG:0857SHA:600028SHA:601857
Asia

Market Chatter: China to Loosen Oil Export Restrictions Beginning in July

China has relaxed restrictions on oil exports after it safeguarded its supply following the war in the Middle East, Bloomberg reported Tuesday, citing people familiar with the matter.The Commerce Ministry already allowed state-owned refiners to export oil to a wider range of countries than initially allowed, beginning in July, the report said.Sinopec (HKG:0386, SHA:600028), China's largest refiner, and the Commerce Ministry have not yet responded to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0386SHA:600028
Asia

Market Chatter: Sinopec, PetroChina Weigh Iranian Oil Imports as US Waiver Opens Door

China Petroleum & Chemical or Sinopec (HKG:0386, SHA:600028) and PetroChina (HKG:0857, SHA:601857) are assessing a resumption of Iranian crude purchases for the first time in six years, Reuters reported Thursday, citing industry sources.A recent U.S. waiver permits dollar transactions, though ample rival supplies from Saudi, Kuwait, and Iraq, plus weak Chinese fuel demand, curb their interest, the news wire said.The firms are also scrutinizing banking, insurance, and shipping logistics, while uncertainty remains over which financial institutions can facilitate the deals, the report said.Sinopec and PetroChina didn't immediately respond to MT Newswire's request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0386HKG:0857SHA:600028SHA:601857
Asia

Market Chatter: Singapore's Fuel Prices Drop Amid US-Iran Peace Progress

Fuel pump prices in Singapore have eased, with 95-octane petrol dropping to SG$3.42 per liter across all major operators, The Straits Times reported Tuesday, citing the Consumers Association of Singapore's Price Kaki tracking app.The rate was reached after Esso matched the four-cent reductions introduced days earlier by Caltex, Shell, China Petroleum & Chemical Corp. (SHA:600028, HKG:0386) or Sinopec, and SPC.The price cuts follow a decline in global oil markets amid the US-Iran framework agreement, with the benchmark crude oil dropping to around $77 a barrel on Wednesday, according to Trading Economics.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^STIHKG:0386SHA:600028
Asia

China's Sinopec Secures Proven Geological Reserves for Ziyang Dongfeng Shale Gas Field

China Petroleum & Chemical Corp. (SHA:600028, HKG:0386), d/b/a Sinopec, secured approval for proven geological reserves of about 235.687 billion ​cubic meters of gas at the Ziyang Dongfeng field.The company said late Wednesday that the project, as approved by the Ministry of Natural Resources of China, will be the country's first ultra-deep, 100-billion-cubic-meter-level shale gas field.

HKG:0386SHA:600028
US Markets

Sinopec's Q1 Profit Jumps 28% as Crude Rally Offsets Lower Fuel Sales

China Petroleum & Chemical or Sinopec (HKG:0386, SHA:600028) reported higher first-quarter earnings as it benefited from rising oil prices, offsetting the drop in sales during the period.The Beijing-headquartered oil and gas company's attributable profit jumped 28% to 17 billion yuan from 13.3 billion yuan a year earlier, according to a Wednesday filing with the Shanghai Stock Exchange.Earnings per share climbed to 0.141 yuan from 0.109 yuan.Pre-tax profit surged 33% to 24.2 billion yuan from 18.3 billion yuan, which Sinopec attributed to inventory gains from higher crude oil prices and improved margins of refining by-products.Higher crude prices helped Sinopec offset the 3.9% drop in revenue to 706.7 billion yuan from 735.4 billion yuan. Refined oil sales slipped to 55.5 million tonnes in the three-month period from 55.6 million tonnes in the prior-year period.Meanwhile, total operating costs slid to 674.9 billion yuan from 722.4 billion yuan.Sinopec's oil and gas production edged up to 131.5 million barrels of oil equivalent in the first quarter from about 131 million barrels a year earlier.During the period, the oil and gas company said it adjusted production and operations to hedge for the impact of the Middle East conflict."Oil prices have potential for further upside and are expected to remain elevated throughout 2026," the South China Morning Post reported the same day, citing Shenwan Hongyuan (SHE:000166, HKG:6806) analyst Shao Jingyu.Sinopec also warned of the impact of rising alternative energy consumption to the company. In Q1, Sinopec said China's demand for natural gas grew 3.1% year over year, but refined oil product consumption slipped 2.3% year over year.Sinopec's results reflect normalcy despite tensions in the Middle East, according to a report by CLSA.However, the real test for Sinopec could be seen in the second quarter, as supply disruptions during the war may have affected the oil and gas giant's imports, the financial services company said.Sinopec earlier denied plans of purchasing oil from Iran but could tap state reserves, according to media reports.For the two upcoming months, the company will reportedly adjust refinery output and increase refining yields in order to secure an adequate domestic supply.S&P Global Ratings analysts believe Sinopec could be vulnerable to operational shocks due to its dependence on Middle East imports, Dow Jones reported separately.

HKG:0386HKG:6806SHA:600028SHE:000166
Asia

Sinopec's Q1 Profit Jumps 28%; Revenue Down 4%

China Petroleum & Chemical (HKG:0386, SHA:600028) or Sinopec reported a 28% jump in net profit in the first quarter to 17 billion yuan from 13.3 billion yuan a year earlier, according to filings with the Hong Kong and Shanghai bourses late Tuesday.Earnings per share climbed to 0.141 yuan from 0.109 yuan.Revenue fell 3.9% to 706.7 billion yuan from 735.4 billion yuan, the oil and gas company said.

HKG:0386SHA:600028
Asia

Market Chatter: Sinopec Unit Disposes of Stake in CATL

A subsidiary of China Petroleum & Chemical (HKG:0386, SHA:600028) or Sinopec offloaded 5.5% of its stake in Contemporary Amperex Technology's (SHE:300750, HKG:3750) or CATL for $770 million, Reuters reported Wednesday, citing a term sheet.About 8.5 million CATL shares were sold for HK$708 per share, a 3.8% discount from the battery manufacturer's closing price on Tuesday, the report said.Previously, Sinopec (Hong Kong) owned 9.45% of CATL, according to the media outlet, citing data from the LSEG.Sinopec and CATL did not immediately respond to Reuter's request for comment, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0386HKG:3750SHA:600028SHE:300750
Asia

Sinopec Reduces Stake in China Merchants Energy Shipping

China Petroleum & Chemical (HKG:0386, SHA:600028) or Sinopec will reduce its shareholding in China Merchants Energy Shipping (SHA:601872) by about 80.7 million shares, according to a Saturday filing with the Shanghai bourse.The reduction will be equivalent to not more than 1% of China Merchants' share capital, the filing said.Sinopec is the company's second-largest shareholder.

HKG:0386SHA:600028SHA:601872
Asia

Market Chatter: China to Allow State Refiners to Tap Commercial Oil Reserves Amid Energy Crunch

China has allowed state refiners to tap commercial oil reserves, Bloomberg News reported Friday, citing people familiar with the matter.The move comes amid a global energy crisis brought about by the war in Iran, according to the report.The sources did not say how much the state-owned refiners such as China Petroleum & Chemical (HKG:0386, SHA:600028) or Sinopec and PetroChina (HKG:0857, SHA:601857) parent China National Petroleum Corp. could take, the report said.China could allow refiners to extract reserves of up to 1 million barrels daily from April to June, the report said, citing analysts at Energy Aspects.Chinese crude imports reach 11 million barrels daily, Bloomberg reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0386HKG:0857SHA:600028SHA:601857

Track with the FINWIRES app suite

FolioX
FolioX
Track HKG:0386 in your portfolio
WheelAI
WheelAI
Analyze HKG:0386 options with the wheel strategy
StockInsider
StockInsider
See market sentiment on HKG:0386