- Business
- Sinopec Kantons Holdings Limited, established in Bermuda in 1998 and listed on the Hong Kong Stock Exchange in 1999 (stock code: 0934), operates as an investment holding company primarily engaged in oil and gas storage, logistics, and related services; it functions as a subsidiary of Sinopec Kantons International Limited, which is wholly owned by Unipec, a subsidiary of China Petroleum & Chemical Corporation (Sinopec). The company conducts its operations through key segments including crude oil jetty and storage services, which encompass transportation, unloading, storage, and ancillary jetty facilities for oil tankers in China, Europe, and the Middle East; vessel chartering and logistics services for liquefied natural gas (LNG) transportation via eight LNG vessels operated through joint ventures, serving regions such as the PRC, Australia, and Papua New Guinea; crude oil trading in Hong Kong and China; and natural gas pipeline transportation services in China. It manages a portfolio of seven domestic terminal companies, including wholly-owned Huizhou Huade Petrochemical Co., Ltd., 90%-owned Tangshan Caofeidian Shihua, and 50%-owned joint ventures such as Zhanjiang Port Petrochemical, Ningbo Shihua, Qingdao Shihua, Rizhao Shihua, and Tianjin Port Shihua, alongside operational overseas storage projects Vesta Terminals and FOT. Headquartered at 34/F, Citicorp Centre, 18 Whitfield Road, Causeway Bay, Hong Kong, the company employs approximately 212 people and targets oil majors, refiners, and traders in the energy sector across Asia, Europe, and the Middle East. Recent developments include the 2025 interim results announced in October 2025, reflecting revenue of HK$307 million (down 7.17% year-on-year) and profit attributable to equity holders of HK$563 million (down 17.80% year-on-year) amid lower crude oil throughput, alongside a maintained dividend of HK25 cents per share for 2024; a board change in November 2025 with the resignation of company secretary Wang Xiaoming and appointment of Huang He as authorized representative; challenges from the US OFAC's addition of joint venture Rizhao Shihua to its SDN list in 2025, deemed manageable due to diversification; and a 2023 strategic partnership with Mercuria Energy Group via Sinomart acquiring 50% equity in Vesta Terminals to expand liquid bulk storage internationally.