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On the evening of May 8, PetroChina Engineering issued an announcement stating that the company's second-tier subsidiary China Petroleum Pipeline Bureau Engineering Co.
, Ltd.
(indirectly holding 100% of its shares) and Brentex Petroleum Services Limited (abbreviated as Brentex) formed a consortium to acquire the Nigerian National Petroleum Corporation.
(Nigerian National Petroleum Corporation, abbreviated as NNPC) Ajaokuta-Kaduna-Kano (abbreviated as AKK) natural gas pipeline project Kaduna-Kano section of the general contract award letter
.
? It is worth noting that the stock price of China Petroleum Engineering reached a daily limit 2 minutes after the opening of the market.
The closing price was 8.
21 yuan per share, an increase of 10.
05% throughout the day.
? It is reported that the Kaduna-Kano section of the pipeline awarded by the owner this time is AKK The third bid section of the natural gas pipeline project mainly includes a 40-inch pipeline of 221 kilometers, 2 stations, 7 valve chambers and its ancillary facilities.
The project construction period is subject to the final signed agreement
.
According to the award letter, the consortium will undertake the design, procurement, construction, operation and training of the Kaduna-Kano section of the pipeline
.
Among them, PetroChina Engineering accounts for 80% of the construction part, which is estimated to be approximately US$949 million (approximately RMB 6.
550 billion)
.
? PetroChina Engineering said that the amount awarded by the owner of the project this time accounted for approximately 12.
93% of the company's operating income in 2016.
It will have a certain impact on the company's future operating income and total profit
.
"The implementation of this project will not affect our company's independence, and our company's main business will not become dependent on related parties due to this project
.
It will also help our company's further consolidation and expansion of the oil and gas storage and transportation project construction business in Nigeria
.
" Public information shows that NNPC is headquartered in Abuja, Nigeria.
It is an integrated upstream and downstream national oil company.
It was established in 1977 by the merger of the former Nigerian Petroleum Company and the Ministry of Petroleum Resources.
The general manager is directly appointed by the government
.
The main business includes: oil and gas exploration and development, oil refining, petrochemical product production, as well as the transportation, sales and natural gas processing of crude oil and its derivatives in Nigeria.
.
NNPC does not have an associated relationship with China Petroleum Engineering, and there was no similar business with China Petroleum Engineering in the previous fiscal year
.
? PetroChina Engineering pointed out in the announcement that the company has relatively rich experience in oil and gas pipeline construction, and the existing technology and resources can satisfy the implementation of the project
.
The risk of contract performance in terms of market, policy, law, security, etc.
is relatively small
.
"As of the announcement date, the company has not signed a formal contract with the counterparty.
The terms of the contract and the performance of the contract shall be subject to the final signed contract.
At the same time, NNPC needs to further confirm the financing of the project.
The financing time and financing amount are uncertain
.
"CNPC Engineering said
.
? On December 27 last year, *ST Tianli announced that the company's major asset reorganization was approved by the China Securities Regulatory Commission.
After the reorganization is completed, the listed company will serve as a listing platform for the CNPC's engineering construction business
.
On the evening of February 10, *ST Tianli announced that after the company’s application and approved by the Shanghai Stock Exchange, the company’s securities abbreviation was changed from "*ST Tianli" to "*ST Oil Workers" on February 17, 2017.
"
.
? On May 5, *ST Oiler issued an announcement stating that the company’s 2016 audited net profit was 1.
288 billion yuan, and that the net profit indicator involved delisting risk warnings has been eliminated, and other delisting risk warnings and other risk warnings have not been touched Situation
.
The company’s shares will be suspended for one day on May 5, and the stock delisting risk warning will be lifted from May 8, and the stock abbreviation will be changed from "*ST Oil Workers" to "CNPC Engineering"
.
, Ltd.
(indirectly holding 100% of its shares) and Brentex Petroleum Services Limited (abbreviated as Brentex) formed a consortium to acquire the Nigerian National Petroleum Corporation.
(Nigerian National Petroleum Corporation, abbreviated as NNPC) Ajaokuta-Kaduna-Kano (abbreviated as AKK) natural gas pipeline project Kaduna-Kano section of the general contract award letter
.
? It is worth noting that the stock price of China Petroleum Engineering reached a daily limit 2 minutes after the opening of the market.
The closing price was 8.
21 yuan per share, an increase of 10.
05% throughout the day.
? It is reported that the Kaduna-Kano section of the pipeline awarded by the owner this time is AKK The third bid section of the natural gas pipeline project mainly includes a 40-inch pipeline of 221 kilometers, 2 stations, 7 valve chambers and its ancillary facilities.
The project construction period is subject to the final signed agreement
.
According to the award letter, the consortium will undertake the design, procurement, construction, operation and training of the Kaduna-Kano section of the pipeline
.
Among them, PetroChina Engineering accounts for 80% of the construction part, which is estimated to be approximately US$949 million (approximately RMB 6.
550 billion)
.
? PetroChina Engineering said that the amount awarded by the owner of the project this time accounted for approximately 12.
93% of the company's operating income in 2016.
It will have a certain impact on the company's future operating income and total profit
.
"The implementation of this project will not affect our company's independence, and our company's main business will not become dependent on related parties due to this project
.
It will also help our company's further consolidation and expansion of the oil and gas storage and transportation project construction business in Nigeria
.
" Public information shows that NNPC is headquartered in Abuja, Nigeria.
It is an integrated upstream and downstream national oil company.
It was established in 1977 by the merger of the former Nigerian Petroleum Company and the Ministry of Petroleum Resources.
The general manager is directly appointed by the government
.
The main business includes: oil and gas exploration and development, oil refining, petrochemical product production, as well as the transportation, sales and natural gas processing of crude oil and its derivatives in Nigeria.
.
NNPC does not have an associated relationship with China Petroleum Engineering, and there was no similar business with China Petroleum Engineering in the previous fiscal year
.
? PetroChina Engineering pointed out in the announcement that the company has relatively rich experience in oil and gas pipeline construction, and the existing technology and resources can satisfy the implementation of the project
.
The risk of contract performance in terms of market, policy, law, security, etc.
is relatively small
.
"As of the announcement date, the company has not signed a formal contract with the counterparty.
The terms of the contract and the performance of the contract shall be subject to the final signed contract.
At the same time, NNPC needs to further confirm the financing of the project.
The financing time and financing amount are uncertain
.
"CNPC Engineering said
.
? On December 27 last year, *ST Tianli announced that the company's major asset reorganization was approved by the China Securities Regulatory Commission.
After the reorganization is completed, the listed company will serve as a listing platform for the CNPC's engineering construction business
.
On the evening of February 10, *ST Tianli announced that after the company’s application and approved by the Shanghai Stock Exchange, the company’s securities abbreviation was changed from "*ST Tianli" to "*ST Oil Workers" on February 17, 2017.
"
.
? On May 5, *ST Oiler issued an announcement stating that the company’s 2016 audited net profit was 1.
288 billion yuan, and that the net profit indicator involved delisting risk warnings has been eliminated, and other delisting risk warnings and other risk warnings have not been touched Situation
.
The company’s shares will be suspended for one day on May 5, and the stock delisting risk warning will be lifted from May 8, and the stock abbreviation will be changed from "*ST Oil Workers" to "CNPC Engineering"
.
