Sinopec Oilfield Service Extends Massive Guarantees to Subsidiaries and Mexican JV

Sinopec Oilfield Service ( (HK:1033) ) has issued an announcement.

Sinopec Oilfield Service Corporation has secured shareholder approval to continue providing large-scale guarantees for its wholly owned subsidiaries and a Mexican joint venture, aiming to support international market expansion and daily operations. The company will back subsidiaries’ use of its credit facilities and provide performance guarantees for their oilfield service contracts, with joint and several guarantee caps of RMB31.5 billion for credit support, RMB40.7 billion for performance obligations, and up to US$275 million for its Mexico DS joint venture, with the authority to implement these guarantees delegated from the general meeting to the board and management through the 2026 annual general meeting.

The most recent analyst rating on (HK:1033) stock is a Hold with a HK$0.97 price target. To see the full list of analyst forecasts on Sinopec Oilfield Service stock, see the HK:1033 Stock Forecast page.

More about Sinopec Oilfield Service

Sinopec Oilfield Service Corporation is a China-based provider of oilfield engineering and technical services, operating as part of the broader Sinopec group. The company focuses on international market expansion in oilfield services, supporting exploration, development and production projects through its wholly owned subsidiaries and overseas joint ventures.

YTD Price Performance: 57.14%

Average Trading Volume: 270,317,192

Technical Sentiment Signal: Buy

Current Market Cap: HK$56.8B

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