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SINOPEC CORP: CN-US Trade War Has Limited Impact; >65% Div. Ratio Targeted in Next 3 Yrs
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The US-China trade war will have a certain impact on the oil and gas industry, but the impact will not be significant, mainly due to SINOPEC CORP's relatively low share of imported crude oil from the US, accounting for a small proportion of the Group's global procurement, and the Group's relatively small proportion of exported chemical products to the US, Zhao Dong, Vice Chairman and President of SINOPEC CORP (00386.HK), said. SINOPEC CORP would next adjust its sources of crude oil and natural gas imports at the global level to balance the impact, Zhao added. The Group took into full consideration the development strategy, cash flow from operating activities and overall operating conditions when formulating its dividend plan, with the target of achieving a dividend ratio of not less than 65% in the next 3 years, Huang Wensheng, Vice President and Secretary to the Board at SINOPEC CORP, said. AAStocks Financial News |
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