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Stock Market & Financial Investment News

News Breaks
March 24, 2013
19:36 EDTSNPSinopec and parent company in $3B upstream JV
In a press release Sinopec announced that to further strengthen the resource reserves, oil and gas production and operating efficiency of Sinopec's upstream business, and enhance the long-term, balanced and sustainable development of its up, mid and down-stream businesses, the board passed a resolution to form a 50:50 joint venture company between the two wholly-owned subsidiaries of the company and the Group, respectively. The JV HK will use its own funds and loans to acquire the equity interests of a number of overseas oil and gas assets owned by Sinopec Group for a total consideration of approximately USD$3B, of which the company will be responsible for approximately USD$1.5B as a 50% JV HK partner. The company will exercise effective control over the JV HK in accordance with the contractual arrangements.
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September 16, 2014
09:59 EDTSNPOn The Fly: Analyst Downgrade Summary
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07:50 EDTSNPSinopec downgraded to Market Perform from Outperform at Bernstein
Bernstein downgraded Sinopec as the firm was disappointed by the price the company received for its Marketing Co subsidiary. The firm also thinks that Sinopec's decision to acquire the petrochemical assets of Yizheng Company is misguided.
September 15, 2014
09:59 EDTSNPOn The Fly: Analyst Upgrade Summary
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09:24 EDTSNPSinopec upgraded to Hold from Underperform at Jefferies
September 14, 2014
21:37 EDTSNPSinopec sells RMB107B stake in Marketing Co subsidiary
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