|
|
Article: China : Sinopec, PetroChina Shares Fall On Fuel Price Cut In China.
- Article from:
- TendersInfo
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The Hong Kong-listed shares of Chinese refining giants China Petroleum & Chemical Corp. (SNP) and PetroChina Co. (PTR) fell Wednesday after Beijing cut gasoline and diesel prices. At 0418 GMT, China Petroleum & Chemical, the country's largest refiner by output and known as Sinopec, fell 1.3% to HK$6.59, off an intraday low of HK$6.56. PetroChina, the country's largest oil and gas producer by output, was down 1.1% at HK$8.80.
The Hang Seng Index dropped 0.6% to 20,890.
China cut both gasoline and diesel prices by CNY190 a metric ton, effective Wednesday, the National Development and Reform Commission said. It was the seventh fuel price adjustment since ...