Sinopec Remains Neutral

We are upgrading China Petroleum & Chemical Corp. (SNP) to Outperform from Neutral. An increasing trend in production and sales volumes could result in 2010 being a high-profit year for Sinopec, in our view. This will be further amplified by an improvement in realized oil and gas prices.

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%.

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

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

Zacks.com submits: China Petroleum and Chemical Corporation (SNP), or Sinopec, targets more than 40% natural gas output for this year based on growing confidence on its gas fields. The company said that Yuanba gas field has similar potential to the neighboring Puguang field’s output.

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: By Kerri Shannon Chinese state oil company China Petroleum & Chemical Corp. (Sinopec) (SNP) said Friday that it would invest $7.1 billion in the Brazilian unit of Spain's Repsol YPF S.A. (REP) to form one of the largest private energy companies in Latin America.

By Peter Pham:The third of the three leading firms in the Chinese oil and gas industry, Asia's largest refiner, China Petroleum and Chemical Corporation, otherwise known as Sinopec (SNP) posted a significant decline in first half yearly profits for the current year. The company recorded a drop in net income of 41% which now stands at $3.9 billion while its turnover also dropped by 6.2% to $7.3 billion.