Sinochem Group News
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The amount of dollar-denominated bonds issued by companies in Asia is growing almost 10 times faster than the global corporate debt market, raising concern that investors are lowering their standards as they seek to take advantage of the region’s relatively high yields.
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Perenco SA, the French oil producer that scrapped an initial public offering of its Brazilian unit in 2011, “hopes’” to have a successful offshore well discovery in the South American country soon.
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More than 60 oil companies are set to bid on exploration permits offshore Brazil, taking on risks of drilling in virgin waters after similar geology across the Atlantic in Ghana and Ivory Coast yielded major discoveries.
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Cnooc Ltd.’s $4 billion bond sale marks the biggest defeat for the Chinese corporate dollar loan market as companies sell six times more notes in the U.S. currency this year to refinance debt.
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Pioneer Natural Resources Co., the second-biggest oil producer in the Permian Basin of Texas, rose the most in more than two years after first-quarter profit beat forecasts and the company accelerated drilling plans in what it estimates may be the biggest crude find in U.S. history.
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PT Japfa Comfeed Indonesia, the animal feed maker and chicken breeder, is marketing a sale of U.S. dollar-denominated bonds as China tackles an outbreak of avian flu. Credit risk in the Asia-Pacific region fell.
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Sinochem Group, China’s biggest fertilizer trader, considers even a $10 billion bid for Potash Corp. of Saskatchewan Inc. by itself as too much, Caijing magazine said, citing Han Gensheng , the company’s vice president.
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Sinochem Group, China’s biggest supplier of chemical products, agreed to buy a 40 percent stake in Texas oil-shale acreage from Pioneer Natural Resources Co. for $500 million.
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Sinochem Corp. plans to raise as much as 35 billion yuan ($5.5 billion) in an initial public offering to fund an oil refinery project, in what would be China’s sixth-biggest IPO.
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Sinochem Group, China’s biggest supplier of chemical products, agreed to buy a 40 percent stake in Texas oil-shale acreage from Pioneer Natural Resources Co. for $500 million.
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