BP's big hurt Sinopec overseas "take oil" opportunity to come?

BP said June 10 that it had invested about 1.43 billion dollars in the aftermath of the bombing of the Deepwater Horizon rig in the US Gulf of Mexico. It has been speculated that BP will suffer 37 billion of dollars in losses from the bombing. One of the top 500 countries in the US magazine is the Chinese company that is closest to BP.　　So is it possible for Sinopec to overtake BP as one of the world's six largest oil companies? In the world's top 500 rankings in 2009, BP ranked fourth in 367.053 billion U.S. dollars in Revenue (2008), with Sinopec and CNPC ranked 9 and 13. Sinopec's 207.814 billion-dollar income is about 40% per cent worse than BP's.　　Companies with higher incomes than Sinopec also have Exxon Mobil, ConocoPhillips, Shell, Chevron and total. "In 2009, the overall income of Sinopec and BP will be affected by the low price of crude oil, so the 2010-year ranking will not change much." But in the coming years, Sinopec may be replacing BP's position.　　"National Gold securities researcher Liubo said.　　The change is based on several factors: first, BP will have to bear huge compensation and compensation fees. By June 10, BP had spent 1.43 billion of billions of dollars on containment of crude oil spills, drilling costs, subsidies, claims payments, and so on. The reporter saw from the BP annual report that its operating cash flow of about 8 billion dollars.　　So if its funnel device, inclined shaft can be in place, the time to block the oil will also accelerate some, money is not a problem.　　But it is potentially facing a huge cost of government sanctions, environmental protection, and fishermen's subsidies. Now, BP's compensation fee for local fishermen is about 80 to 100 dollars a day.　　The oil spill has led to a total loss of their long-term fishing efforts, and BP may continue to feed the damaged population in the future. The Southwest securities researcher, Wood-Qin, said it believed BP would insure the well, "and that there are laws in the United States that would limit the amount of compensation." In any case, BP's compensation is likely to be less than the estimated $37 billion trillion.　　Liubo also said it could borrow money from banks, issue bonds and sell shares to raise the funds needed. In addition, BP has a wide range of global business, although the oil spill will make it "bones", but not "fall". Boqiang, director of the Energy Research Center at Xiamen University, said: "Single small and medium sized oil companies must sell their assets to save themselves when the financial crisis arrives." The collapse of such financial firms as Lehman Brothers is also linked to the absence of real assets. BP has a solid, it has a lot of crude oil base and refinery, not so easy to fall.　　"But he stressed that future governments ' attitude towards BP was the biggest worry for the multinational giant. Boqiang said the U.S. government has recently suspended the U.S. offshore oil exploration operations. Other countries are not sure whether they will be banned from offshore mining, but at least BP would like to get these resources in the future, the difficultyWill increase.　　This is good news for Sinopec. Sinopec does not lack refining capacity, its short plate is precisely the capacity of crude oil.　　Sinopec's existing refining capacity has overtaken BP, up to 228.8 million tonnes, a head of Sinopec's sales department said of the first financial daily. But BP's upstream oil exploration and mining operations are much better: its daily production of crude (2.535 million barrels) is 3 times times that of Sinopec (825,000 barrels).　　Therefore, Sinopec needs to strengthen its offshore oil expansion, and enhance the strength of the upper reaches of the crude oil, in order to increase the defeat of other companies weight.　　Zhou Showei, deputy general manager of China National Offshore Oil Corporation and academician of Chinese Academy of Engineering, said that over the past 10 years, more than 60% of the world's major oil and gas reserves over 100 million tons have been found in the ocean, more than half of them in the deep sea.　　The deepwater area of South America, the Gulf of Mexico and the Gulf of Guinea in West Africa are the three hot spots. "If a multinational oil company like BP is distrusted by countries such as South America and West Africa, BP may be able to make some markets come out," he said. National oil companies such as Sinopec are the best choice to accept these resources. "Liubo said.