China Petroleum & Chemical Corporation Stock News

"The Market Is Starting To Fail": Buyers Balk At Buying Russian Oil Despite Record Discounts While in their unprecedented broadside of sanctions on Russia, the U.S. and Western allies went out of their way to spare Russian energy shipments and keep economies humming and voters warm, the oil market appears to have gone on strike anyway. Acting as if energy were already in the crosshairs of Western sanctions officials, refiners have balked at buying Russian oil and banks are refusing to finance shipments of Russian commodities, the WSJ reports citing traders, oil executives and bankers. This self-imposed embargo which has effectively halted a majority of Russian oil shipments, threatens to drive up energy prices globally by removing a gusher of oil from a market that was tight even before the Russian invasion of Ukraine. Meanwhile, Russia, waging war and in need of revenue with its financial system in turmoil, is taking extreme steps to convince companies to buy its most precious commodity.

Led by China Petroleum & Chemical, these are the 10 biggest oil companies in the world by 12-month trailing revenue.

China Petroleum & Chemical Corp found using ticker (SNP) now have 3 analysts covering the stock with the consensus suggesting a rating of ''Buy''. The target price ranges between 82.1 and 59.4 calculating the average target price we see 69.27. Given that the stocks previous close was at 52.12 this would imply there is a potential upside of 32.9%. The day 50 moving average is 50.28 and the 200 moving average now moves to 49.68. The market capitalisation for the company is $79,242m. You can visit the company''s website by visiting: https://www.sinopec.com [stock_market_widget type="chart" template="basic" color="green" assets=SNP" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $105,317m based on the market concensus. China Petroleum & Chemical Corporation, an energy and chemical company, engages in oil and gas, and chemical operations in the People''s Republic of China. It operates through five segments: Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others.

Where Africa''s Oil Flows Free While the move away from fossil fuels towards more sustainable alternatives is well on the way in many industry sectors, the world as of now still relies heavily on crude oil for the production of different fuel types, plastics and wax. In 2020 alone, countries around the world produced 4,165 million metric tons of oil, and as Statista''s Florian Zandt points out , the continent of Africa was responsible for 327.3 million metric tons, netting it fifth place worldwide after the Middle East, North America, CIS and the Asia Pacific region including China. As the chart below shows, its oil production hotspots are mainly situated in countries with coastlines, with Nigeria taking the top spot. You will find more infographics at Statista According to data from BP''s yearly report, the Western African nation produced more than a quarter of the whole continent''s oil production, which translates to 86.9 million metric tons . This stands in stark contrast to Nigeria ''s reputation of fostering major technology hubs like Lagos, showcasing the divide between a more traditional, oil-based economy and a more progressive one.

Algeria''s state-owned energy company Sonatrach has signed a $177.7 million (DZD 25 billion) contract with Chinese group Sinopec to build a new liquefied natural gas (LNG) storage tank at the Skikda LNG complex.

Feb 17 (Reuters) - Algeria''s state energy company Sonatrach on Thursday signed a 25 billion dinar ($179 million) contract with China''s Sinopec SGDL.UL to build a liquefied natural gas (LNG) storage tank, state news agency APS reported. The…

China Petroleum & Chemical Corp - ADR (SNP) shares closed 0.7% higher than its previous 52 week high, giving the company a market cap of $13B. The stock is currently up 16.2% year-to-date, up 20.0% over the past 12 months, and up 0.2% over the past five years. This week, the Dow Jones Industrial Average rose 0.4%, and the S&P 500 rose 0.6%. Trading Activity Trading volume this week was 7.4% higher than the 20-day average.Beta, a measure of the stocks volatility relative to the overall market stands at 0.4. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.MACD, a trend-following momentum indicator, indicates an upward trend.The stock closed below its Bollinger band, indicating it may be oversold. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -17.3% The company's stock price performance over the past 12 months lags the peer average by -57.5% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 36.2% higher than the average peer. This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to [email protected]. © 2020 Kwhen Inc.