China Petroleum (SNP) Upgraded to Outperform

By Peter Pham:Chinese oil giant China Petrochemical Corp. (SNP), otherwise known as Sinopec, will buy a 20% stake in Total S.A.'s (TOT) Nigerian offshore oil field for $2.5 billion. This expands Sinopec's overseas asset portfolio significantly.

ByPrescient Investment Analysis:I have recently become aware of China Petroleum & Chemical Corp.'s (SNP) exposure to price-controlled refining while under a simultaneous requirement to significantly reduce pollution. Analysts agree that the company does not make enough money to internally pay for the needed improvements.

Money Morning submits: China's state-run oil and gas giant China Petroleum & Chemical Corp.

By Peter Pham:Asia's leading refiner China Petroleum and Chemical Corp, known as Sinopec (SNP), is eyeing the French oil and gas explorer Etablissements Maurel & Prom (MAU) for a $2+ billion acquisition cost. MAU has an enterprise value of $2.27 billion including its $1.75 billion market cap and through June 2012, its ROE was 11.17%.

By James Hartje:Sinopec (NYSE: SNP) is a state-owned, China-based integrated oil, gas and chemical company. Through its subsidiaries, the company operates in four business segments: Exploration/production, refining, marketing/distribution/chemicals, corporate and other.

Cnooc Ltd. reported 2012 profit that missed analyst estimates as China’s biggest offshore oil producer spent more to explore and revive stalled output growth. Net income fell to 63.7 billion yuan ($10.3 billion) in the 12 months ended Dec. 31 from 70.3 billion yuan a year earlier, the company said in a statement to the Hong Kong stock exchange today. That compared with the 65.3 billion yuan mean of 29 analyst estimates compiled by Bloomberg. Sales climbed 2.8 percent to 247.6 billion yuan.

Zacks.com submits: China Petroleum and Chemical Corporation (SNP) (Sinopec), one of the largest petroleum and petrochemical companies in Asia, has signed a deal with Chevron (CVX) to join the $6 billion-plus Gendalo-Gehem deepwater natural gas project off Ind

China Petroleum & Chemical Corp. (SNP), aka Sinopec, has been experiencing an upturn following the company’s strong first half results. The price of its ADS increased more than 8% from the last month’s low.