Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. China Petroleum & Chemical Corporation
  6. News
  7. Summary
    386   CNE1000002Q2

CHINA PETROLEUM & CHEMICAL CORPORATION

(386)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Sinopec starts construction of green hydrogen plant in Xinjiang - Xinhua

11/30/2021 | 12:48am EST
Man stands next to a logo of Sinopec at an expo on rubber technology in Shanghai

BEIJING (Reuters) - China's state-controlled Sinopec has started the construction of a 3 billion yuan ($470 million) green hydrogen plant, with an annual production capacity of 20,000 tonnes, in Kuqa city in the country's northwestern region of Xinjiang.

The project aims to produce green hydrogen, which is derived from renewable sources, through a water electrolysis system powered by a 300-megawatts solar power station, the state-media Xinhua News reported on Tuesday.

Green hydrogen is produced by splitting water molecules with renewable electricity, and touted as a clean replacement for fossil fuels in industries that are otherwise hard to decarbonise.

Sinopec will also build hydrogen storage tanks, with a total storage capacity of about 210,000 standard cubic metres, and a hydrogen pipeline network that can transmit 28,000 standard cubic metres of hydrogen per hour, according to the report.

The project is expected to start production in June 2023, and the hydrogen it produces will be supplied to Sinopec's Tahe refinery to replace its current gas-to-hydrogen facilities.

Sinopec is also building a 20,000-tonne-per-annum green hydrogen plant in Ordos in Inner Mongolia.

($1 = 6.3715 yuan)

(Reporting by Muyu Xu and Shivani Singh; Editing by Sherry Jacob-Phillips)


ę Reuters 2021
All news about CHINA PETROLEUM & CHEMICAL CORPORATION
01/26China’s State-Owned Firms Post 30% Jump in 2021 Profit
MT
01/26China's Sinopec awards fewer cargoes in recent LNG tender
RE
01/20China Petroleum & Chemical Corporation Reports Production Results for the Twelve Months..
CI
01/19China’s Central SOEs Post 29.8% Profit Jump in 2021
MT
01/19Sinopec Launches Tender to Sell Up to 45 LNG Cargoes in 2022
MT
01/18Sinopec Receives First LNG Cargo From Qatar Petroleum
MT
01/17China Raises Retail Fuel Prices From Tuesday
MT
01/10CNOOC's Bohai overtakes Daqing as China's largest oil field
RE
01/02China Raises Retail Fuel Prices From Saturday
MT
2021Sinopec Oilfield Unit Settles Nearly $5 Million Tax Penalty to Brazil's Tax Body
MT
More news
Financials
Sales 2021 2 679 B 421 B 421 B
Net income 2021 75 144 M 11 807 M 11 807 M
Net cash 2021 52 878 M 8 309 M 8 309 M
P/E ratio 2021 6,43x
Yield 2021 8,95%
Capitalization 601 B 77 251 M 94 499 M
EV / Sales 2021 0,20x
EV / Sales 2022 0,20x
Nbr of Employees 384 065
Free-Float -
Chart CHINA PETROLEUM & CHEMICAL CORPORATION
Duration : Period :
China Petroleum & Chemical Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA PETROLEUM & CHEMICAL CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Last Close Price 4,06 CNY
Average target price 4,23 CNY
Spread / Average Target 4,27%
EPS Revisions
Managers and Directors
Bao Cai Yu President & Executive Director
Dong Hua Shou Chief Financial Officer
Yong Sheng Ma Chairman
Shao Feng Zhang Chairman-Supervisory Board
Hong Bin Cai Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
CHINA PETROLEUM & CHEMICAL CORPORATION11.85%77 554
EXXON MOBIL CORPORATION21.21%314 004
CHEVRON CORPORATION13.07%255 785
RELIANCE INDUSTRIES LTD0.22%201 412
BP PLC19.24%104 369
MARATHON PETROLEUM CORPORATION10.92%43 694