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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China Petroleum & Chemical Corp    600028   CNE0000018G1

CHINA PETROLEUM & CHEMICAL CORP (600028)
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China NDRC To Cut Gasoline, Diesel Prices -C1 Energy

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05/09/2012 | 10:22am CEST

China's National Development and Reform Commission will cut gasoline and diesel prices by CNY330 and CNY310 a metric ton, respectively, energy consultancy C1 Energy said Wednesday, citing an oil industry person familiar with the matter.

This would mean a decline of 3.3% in the average retail ceiling benchmark for gasoline of CNY9,980 a metric ton, and a drop of 3.4% in the average retail ceiling benchmark for diesel of CNY9,130 a ton, according to Dow Jones Newswires calculations.

The exact price ceilings vary by geographic location.

The NDRC last changed gasoline and diesel prices on March 20, raising them by CNY600 a ton, in response to rising international oil prices.

Under China's oil product pricing system, domestic fuel prices may be adjusted when the moving average of a basket of international crudes changes more than 4% over a period of 22 working days.

The government hasn't always rigidly followed the formula, which was introduced in 2009.

In the past, C1 Energy has generally been reliable in its reports on China's fuel price changes ahead of the NDRC's official announcement.

-By Wayne Ma, Dow Jones Newswires; +86 10 8400 7714; [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
CHINA PETROLEUM & CHEMICAL CORP -1.01% 6.83 End-of-day quote.11.42%
PETROCHINA COMPANY -1.42% 7.64 End-of-day quote.-5.56%
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Financials ( CNY)
Sales 2018 2 484 B
EBIT 2018 100 B
Net income 2018 67 215 M
Finance 2018 5 967 M
Yield 2018 5,42%
P/E ratio 2018 12,19
P/E ratio 2019 11,63
EV / Sales 2018 0,32x
EV / Sales 2019 0,28x
Capitalization 806 B
Chart CHINA PETROLEUM & CHEMICAL
Duration : Period :
China Petroleum & Chemical Technical Analysis Chart | 600028 | CNE0000018G1 | 4-Traders
Technical analysis trends CHINA PETROLEUM & CHEMICAL
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 7,65  CNY
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Hou Liang Dai Chairman & President
Dong Zhao Chairman-Supervisory Board
De Hua Wang Chief Financial Officer
Fang Zheng Jiao Executive Director & Senior Vice President
Zhen Ying Jiang Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
CHINA PETROLEUM & CHEMICAL CORP11.42%128 002
EXXON MOBIL CORPORATION-5.05%334 627
BP-0.86%144 786
RELIANCE INDUSTRIES1.08%88 740
SUNCOR ENERGY INC.5.74%62 633
PTT PUBLIC COMPANY LIMITED--.--%53 623