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sinopec oilfield service c-a (600871) Details

Sinopec Oilfield Service Corporation provides petroleum engineering and technical services in the People’s Republic of China and internationally. It operates through five segments: Geophysics, Drilling Engineering, Logging and Mud Logging, Special Downhole Operations, and Engineering Construction. The Geophysics segment offers terrestrial and marine geophysical exploration, development, and technical services. The Drilling Engineering segment provides land and ocean drilling design, construction, and technical services, as well as drilling instrumentation services. The Logging and Mud Logging segment offers land and ocean project contracting and technical services for collection, monitoring, transmission, processing and interpretation, and evaluation of wellbore oil and gas, geology, and engineering information. The Special Downhole Operations segment provides oil engineering technical and construction services, including oil testing, well repair, and lateral drilling, as well as fracturing, acidizing, and oil assignments. The Engineering Construction segment offers various services comprising feasibility studies, design, procurement, and construction for projects of onshore and offshore oil and gas fields, long-distance pipeline projects, oil and gas transporting process projects, storage and transportation projects, petrochemical supporting projects, building construction, water resources and hydropower, ports and waterways, electricity transmission and distribution projects, manufacturing of pressure vessels, LNG projects, coal chemical engineering, geothermal utilization, energy saving, and municipal roads and bridges. The company was formerly known as Sinopec Yizheng Chemical Fibre Company Limited and changed its name to Sinopec Oilfield Service Corporation in March 2015. The company is headquartered in Beijing, the People’s Republic of China. Sinopec Oilfield Service Corporation is a subsidiary of China Petrochemical Corporation.

sinopec oilfield service c-a (600871) Top Compensated Officers

Vice Chairman & GM
Total Annual Compensation: CNY415.0K
Compensation as of Fiscal Year 2016.
sinopec oilfield service c-a
Sinopec Oilfield Service Announces Its 'A' Shares Being Implemented Delisting Risk Warning

Sinopec Oilfield Service announced that since the company record the losses in 2016 and 2017, and the audited net assets value as at the end of year 2017 is negative, according to Rule 13.2.1 (1) and (2) of Listing Rules of Shanghai Stock Exchange, the Shares will be implemented delisting risk warning special treatment after the publication of the 2017 A Share annual report. According to Rule 13.2.4 of Listing Rules of Shanghai Stock Exchange, the A shares of the Company will be suspended for one day on 28 March 2018 and be implemented of risk warning with effective from 29 March 2018. After implementation of risk warning, the daily price limit of the Shares will be 5%, and the Shares will be traded in risk warning board. According to relevant rules of Listing Rules of Shanghai Stock Exchange, if the Company’s audited net profit for the year 2018 continue to be negative, or the audited net assets value as at the end of year 2018 is negative, the Company’s A shares would be suspended after the disclosure of the 2018 A Share annual report. If the Company still records a loss in the annual report for the statutory financial period (i.e. a year ended 31 December 2019), the Company’s A shares would be delisted after the disclosure of the 2019 A Share annual report.

Sinopec Oilfield Service Corporation Provides Unaudited Earnings Outlook for First Quarter Ended March 31, 2018

Sinopec Oilfield Service Corporation provided unaudited earnings outlook for first quarter ended March 31, 2018. For the period, the company expects operational results will be profitable, with net profit attributable to equity shareholders of the Company of approximately CNY 30 million, and net loss attributable to equity shareholders of the company after deducting non-recurring profit and loss approximately CNY 330 million in accordance with the PRC Accounting Standards for Business Enterprises.

Sinopec Oilfield Service Corporation Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2017; Provides Capital Expenditure Guidance for the Year 2018

Sinopec Oilfield Service Corporation reported audited consolidated earnings results for the year ended December 31, 2017. For the year, the company reported revenue of RMB 48,485,788,000 against RMB 42,923,500,000 a year ago. Operating loss was RMB 10,369,784,000 compared with RMB 16,095,431,000 a year ago. Loss before income tax was RMB 10,317,673,000 against RMB 15,887,181,000 a year ago. Loss for the year was RMB 10,556,228,000 compared with RMB 16,198,377,000 a year ago. Basic and diluted loss per share attributable to owners of the company from continuing operations was RMB 0.746 against RMB 1.145 a year ago. Net cash generated from operating activities was RMB 419,456,000 compared with net cash used in operating activities was RMB 3,907,318,000 a year ago. Cash paid for acquisition of fixed assets and intangible assets was RMB 1,175,401,000 compared to RMB 1,228,157,000 a year ago. In 2017, the company planned to allocate investment of RMB 2.5 billion, actually allocated investment of RMB 0.74 billion, in which RMB 0.5 billion was spent on non-installed equipment, RMB 0.07 billion on construction projects, RMB 0.04 billion on computer information projects, and RMB 0.04 billion on safety hazard treatment projects. It spent funds on strictly selected investment targets and reduced the annual investment by RMB 1.76 billion. The company's budget for capital expenditure in 2018 is RMB 1.50 billion.


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