Citi maintains Sinopec Shanghai A at Buy
A Citi analyst maintained Sinopec Shanghai A (SS: 600688) at Buy and a price target of $3.90 from a prior price target of HK$3.65. Prior to this rating, Sinopec Shanghai A had 4 buy...
Strong Buy
or
Sinopec Shanghai Petrochemical ADR News & Analysis
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European gas prices edge higher as cold snap tests continent's discipline
By Geoffrey Smith Investing.com -- Benchmark European gas prices rose on Monday as a cold snap across the continent provided the first test of its ability to keep demand subdued in a winter...
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House Republicans Launch Probe of Biden’s Oil Reserve Release
(Bloomberg) -- House Republicans are launching an investigation into what they say could be the “potential misuse” by the Biden administration of the nation’s emergency oil reserves to lower...
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China Locks Down Part of Its Northern Hub for Coal Shipping
(Bloomberg) -- The northern port of Qinhuangdao is the latest Chinese commodities hub to get hit by virus-related lockdowns. The city in Hebei province has locked down its Haigang district,...
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China Eyes Coal, Gas Imports to Calm Power Crunch: Energy Update
(Bloomberg) -- The world’s second-biggest economy is caught in the grips of a widening power shortage that’s threatening to stymie growth and further tangle already snarled global supply...
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China Begins Winter Gas Buying Spree at the Worst Possible Time
(Bloomberg) -- China is escalating its purchases of liquefied natural gas for the winter, exacerbating a global supply shortage and leaving less fuel for energy-parched Europe. China is...
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Climate Report Exposes Fault Lines Within Fossil Fuel Industry
(Bloomberg) -- The response from fossil fuel companies to the long-awaited United Nations-backed report on climate change is exposing deep-seated divisions within the industry on how to deal...
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China’s Biggest Oil Refiner Seen Cutting Runs as Delta Hits
(Bloomberg) -- China’s biggest oil refiner is scaling back operations as Beijing’s aggressive response to the delta virus variant saps demand for road and aviation fuel, according to an...
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China’s New Oil Giants Flourish in Xi’s Clean Energy Wave
(Bloomberg) -- China’s newest oil refiners are thriving by aligning themselves with President Xi Jinping’s vision, expanding even as their older rivals and several other private businesses...
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Six Reasons Asia's Oil Refiners Aren't Going Away Anytime Soon
(Bloomberg) -- Predictions of peak oil and the impending demise of fossil fuels will hit Asian oil refiners especially hard. The region is home to three of the top four oil-guzzling nations,...
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China’s Mega-Refineries Are Throttling Other Asia Oil Processors
(Bloomberg) -- The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and...
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U.S. Blacklists Xiaomi, Oil Giant Cnooc in Late Anti-China Push
(Bloomberg) -- The Trump administration blacklisted Chinese smartphone manufacturer Xiaomi (OTC:XIACF) Corp. for its military links along with the country’s third-biggest oil company over...
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China Oil Majors May Face U.S. Delisting After Telcos Cut
(Bloomberg) -- Chinese oil majors may be next in line for delisting in the U.S. after the New York Stock Exchange said last week it would remove the Asian nation’s three biggest telecom...
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Here’s the Latest on Libya as It Restarts Oil Output and Exports
(Bloomberg) -- Libya’s oil industry, all but shut down since January because of civil war, is reopening -- in parts. Oil output has almost tripled to 250,000 barrels a day since the partial...
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One of the World’s Oldest LNG Deals Is Unraveling on the Virus
(Bloomberg) -- One of the world’s oldest liquefied natural gas deals may be set to end as buyers face a supply glut and demand uncertainty exacerbated by the coronavirus pandemic.The almost...
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China’s Record Oil Imports Slowing as Teapots Run Out of Quotas
(Bloomberg) -- China’s record haul of crude is poised to end as state-issued allowances for imports dwindle, potentially taking the wind out of the uneven recovery across global oil...
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China Gears Up for Record-Breaking U.S. Crude Haul in September
(Bloomberg) -- U.S. oil exports to China are set to reach a record next month in a sign that Beijing is stepping up purchases to meet its commitments under a landmark trade deal reached...
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Dirty Oil’s Unusual Demand Boost Set to Wane on OPEC+ Easing
(Bloomberg) -- An unexpected demand boost for dirty fuel oil is poised to ease with the return of some OPEC+ crude supply from this month. Cuts by the producer alliance combined with...
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Prized Iraqi Basrah Oil Sees Fire Sale as China Demand Wanes
(Bloomberg) -- China’s cooling demand is continuing to wreak havoc on the physical oil market in Asia, with Iraq’s prized Basrah Light crude sold at a discount to its official selling price...
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China Fuel Flood Has Asia Gasoline Recovery From Virus Teetering
(Bloomberg) -- Asian oil refiners, beware. China’s churning out cheap gasoline and it’s pulling the rug from under the sector’s recovery. Chinese fuel producers are ramping up gasoline...
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Crude Oil Drifts Lower Ahead of Talks on U.S. Stimulus Package
By Geoffrey Smith Investing.com -- Crude oil prices drifted lower in early trade in New York on Monday, in a holding pattern ahead of what promises to be a pivotal week for the outlook for...
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China’s Slowing Oil Purchases Give Bulls Something to Ponder
(Bloomberg) -- Is it a pause, or something more profound? Either way, China’s crude purchases are stuttering, helping to put the oil price rally on hold. At least for now. While the world’s...
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Lost in Oil’s Rally: $2 Trillion-a-Year Refining Industry Crisis
(Bloomberg) -- Crude oil is the world’s most important commodity, but it’s worthless without a refinery turning it into the products that people actually use: gasoline, diesel, jet-fuel and...
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China Oil Titans Plan Joint Crude Buying to Add Bargaining Power
(Bloomberg) -- China’s state-owned oil refining giants are in discussions to form a purchasing group to buy crude together, increasing their bargaining power and avoiding bidding...
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China’s Commodities Rebound Faces Decisive Test at Policy Meet
(Bloomberg) -- The rebound in China’s world-leading markets for industrial commodities will enter a decisive phase this week, as investors brace for a government response to the coronavirus...
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Chinese Oil Demand Is Almost Back to Pre-Virus Crisis Levels
(Bloomberg) -- Chinese oil demand is all but back to levels last seen before Beijing imposed a national lockdown to fight the coronavirus outbreak, according to people with inside knowledge...
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Singapore Oil Trader Involved in ‘Dishonest’ Deals, HSBC Says
(Bloomberg) -- HSBC Holdings Plc (LON:HSBA) alleged Singapore oil trader ZenRock Commodities Trading Pte Ltd. was involved in a series of “highly dishonest transactions” that included...
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