Integrated Oil and Gas(IN40159.SH)

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Integrated Oil and Gas
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Vitol, Trafigura offer Venezuelan oil to Indian, Chinese refiners for March delivery, sources say

Vitol and Trafigura are negotiating Venezuelan crude oil sales to Indian and Chinese refiners for March delivery. They have agreements with the U.S. government to market stranded Venezuelan oil, allowing exports to resume after a halt due to political changes in Venezuela. Indian refiners like IOC and HPCL are considering purchases, while Trafigura is also in talks with PetroChina. The traders are offering cargoes at a discount to Brent prices and are securing shipping logistics for the sales, with the first cargo expected to load soon.

Reuters·
SH
601857
+1.32%
HK
00857
+0.48%
Reuters·
SH
601857
+1.32%
HK
00857
+0.48%

Investment Ratings and Target Prices for Oil Stocks by Citigroup in "Big Banks" (Table)

Citi published a research report, listing the investment ratings and target prices for Chinese oil stocks as follows: Stock | Investment Rating | Target Price (HKD) PetroChina | Outperform | HKD 10 → HKD 9.6 CNOOC | Outperform | HKD 23 → HKD 22.8 Sinopec | Outperform | HKD 4.4 → HKD 5.2

AASTOCKS·
SH
600028
-0.34%
HK
00386
+0.62%
SH
601857
+1.32%
AASTOCKS·
SH
600028
-0.34%
HK
00386
+0.62%
SH
601857
+1.32%

Sinopec Tightens Board Governance With New Nomination Committee Charter

China Petroleum & Chemical Corporation (Sinopec) has updated its nomination committee charter to enhance board governance. The new framework mandates that independent directors constitute a majority of the committee, with an independent chair appointed by the board. Members will be selected through a defined process and will serve concurrent terms with their directorships. This move aligns with China's Company Law and aims to strengthen oversight and governance procedures. The latest analyst rating for Sinopec's stock (HK:0386) is a Sell, with a price target of HK$4.03.

Tip Ranks·
HK
00386
+0.62%
SH
600028
-0.34%
Tip Ranks·
HK
00386
+0.62%
SH
600028
-0.34%

Sinopec Tightens Governance Over Executive Pay and Incentive Schemes

Sinopec has updated its Board Remuneration and Appraisal Committee's terms, enhancing governance over executive pay and incentives. The changes align with Chinese law and corporate governance codes, emphasizing independent directors' roles and defining responsibilities for performance appraisals and remuneration policies. The committee will also oversee stock incentive plans and employee stock ownership arrangements. Currently, analysts rate Sinopec's stock (HK:0386) as a Sell, with a price target of HK$4.03.

Tip Ranks·
HK
00386
+0.62%
SH
600028
-0.34%
Tip Ranks·
HK
00386
+0.62%
SH
600028
-0.34%

Sinopec Shanghai Petrochemical to Consolidate Baling New Materials as Subsidiary

Sinopec Shanghai Petrochemical Co. has announced plans to consolidate Baling New Materials, a joint venture with Hunan Petrochemical, into its financial statements. This move will enhance its voting rights and corporate governance, effectively making Baling New Materials a subsidiary. The transaction requires reporting and approval from independent shareholders, with a circular due by February 9, 2026, and a new joint venture agreement by March 31, 2026. The latest analyst rating for Sinopec Shanghai Petrochemical (HK:0338) is a Hold with a price target of HK$1.50.

Tip Ranks·
HK
00386
+0.62%
SH
600028
-0.34%
Tip Ranks·
HK
00386
+0.62%
SH
600028
-0.34%
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Fearing Western sanctions, China's oil giants suspend seaborne Russian oil purchases

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