HONG KONG — China's state-owned oil companies are stepping up capital investment as they plan to hand out record dividends under increasing pressure from the central government to focus more on stock market performance and shareholder returns.
Sinopec, PetroChina and CNOOC — China Petrochemical Corp. (Sinopec Group), China National Petroleum Corp. (CNPC) and China National Offshore Oil Corp. (also abbreviated as CNOOC) listed their respective major units – all signaled this approach. releases its final interim results this week.