PetroChina

As its name suggests, PetroChina Company Ltd is the listed arm of state-owned China National Petroleum Corporation (CNPC). It is China's biggest oil producer, and is listed in Hong Kong, New York, and Shanghai.

Probe hits shares of PetroChina and unit

Shares of PetroChina fell after the firm's three top managers were under investigation for alleged violations of discipline. Photo: Bloomberg

Shares of PetroChina, the country's largest oil and gas producer, fell 4.4 per cent after the firm said three of its top managers were under investigation by Beijing for alleged violations of discipline.

Thursday, 29 August, 2013, 5:02am

Three more CNPC officials under investigation

Three PetroChina senior officials are being investigated over alleged breaches of discipline. Photo: Xinhua

CNPC vice general manager Li Hualin, vice-president and Changqing general manager Ran Xinquan, and PetroChina chief geologist Wang Daofu are being investigated, Xinhua reported, citing the State Council's State-owned Assets Supervision and Administration Commission.

29 Aug 2013 - 8:42am

PetroChina seeks non-state allies for joint ventures

President Wang Dongjin expects a narrowing in PetroChina's gas import losses. Photo: Edward Wong

PetroChina, the country's largest oil and gas producer, will seek further co-investments in projects with private enterprises and foreign firms after forming a joint venture with two fund management firms in June.

23 Aug 2013 - 5:34am

PetroChina to join Exxon on giant Iraq oilfield

PetroChina

China's biggest energy firm PetroChina will join ExxonMobil in developing Iraq's giant West Qurna oilfield and is in talks with Lukoil

3 Sep 2013 - 1:03pm

PetroChina shares soar on natural gas price hike

PetroChina suffered huge losses last year from selling imported natural gas in the domestic market at a loss. Photo: Xinhua

Shares of China’s dominant oil and gas producer PetroChina soared on Tuesday after Beijing announced that it would raise natural gas prices for industrial and commercial users by 15 per cent as part of efforts to boost gas consumption.

2 Jul 2013 - 11:01am

PetroChina to gain from higher Beijing gas tariffs

PetroChina contributed 68 per cent of the nation's gas output last year.

PetroChina, the nation's biggest natural gas supplier, will be the main beneficiary of Beijing's decision to raise non-residential gas prices nationwide by an average 15 per cent from July 10.

2 Jul 2013 - 2:51am

China gas distributors profitable as price controls slam PetroChina

PetroChina has been importing natural gas at crude-linked prices and selling it at home at a loss because of government price controls aimed at taming inflation. Photo: Reuters

The mainland's natural gas sector is a tale of two industries: a downstream distribution business where operators are enjoying record profits thanks to rising gas demand and stable margins and an upstream supply trade whose profit has been seriously eroded by losses on contracts for long-term imports.

27 Jun 2013 - 4:47am

PetroChina in talks to sell minority stakes in projects

PetroChina is expected to sell stakes in projects as part of plans to cut capital expenditure and improve its cash flow. Photo: Bloomberg

PetroChina recently adopted a strategy to "lighten" its asset investment burden by selectively opening up its oil and gas exploration and development projects, refineries, petrochemical plants and oil and gas pipelines to investment by domestic and overseas partners.

31 May 2013 - 3:49am

Sino Oil spends US$30m on wells and pipelines

Dai Xiaobing, Executive Director of Sino Oil and Gas Holdings Limited.

Sino Oil and Gas, a partner of PetroChina in a project to extract natural gas trapped inside coal seams in Shanxi province, plans to spend US$30 million this year on well drilling, pipeline construction and the expansion of a gas processing plant.

31 May 2013 - 4:10am 1 comment

PetroChina to buy more gas overseas despite losses

The mainland has committed to import 95 billion cubic metres of gas in 2015 and is under pressure to increase prices. Photo: Reuters

PetroChina, the nation's largest oil and gas producer, will continue to boost natural gas imports even though mounting losses have substantially weakened its cash flow and increased its debt burden.

24 May 2013 - 3:47am

PetroChina's Kunlun invests billions as cars are converted to gas

Kunlun aims to increase sales by 30 per cent annually. Photo: Xinhua

Kunlun Energy, PetroChina's gas distribution and infrastructure unit, plans to invest HK$22 billion this year building gas pipelines and liquefied natural gas (LNG) processing plants, as more petrol- and diesel-powered vehicles are converted to run on natural gas.

21 May 2013 - 4:53am

Refining fuels rise in Sinopec earnings

Sinopec's first-quarter net profit was 16.7 billion yuan. Photo: Reuters

PetroChina, the nation's largest oil and gas producer, and rival China Petroleum & Chemical (Sinopec) posted divergent first-quarter results, as better state pricing on refined fuel and weaker crude oil prices delivered net benefits to more refining- exposed Sinopec.

26 Apr 2013 - 4:43am

Fat chance of staff cuts after PetroChina headcount doubles

Fat chance of staff cuts after PetroChina headcount doubles

Making Jiang Jiemin, the former chairman of PetroChina, the head of the State-owned Assets Supervision and Administration Commission (Sasac) is a big sell for state enterprises.

3 Sep 2013 - 1:01pm 1 comment

State leaves little to chance as media follows prepared script

Chinese Premier Li Keqiang. Photo: Xinhua

I have no doubt that there will be a pre-election by Beijing loyalists for the next chief executive. The evidence lies in the press conferences of newly appointed Premier Li Keqiang and listed oil giant PetroChina.

3 Sep 2013 - 1:01pm 2 comments

PetroChina targets 3.2 pc output growth per year

PetroChina vice-president Sun Longde says the company sees natural gas as the fastest-growing and the most strategic business segment. Photo: Dickson Lee

The firm posted a net profit of 115.3 billion yuan (HK$142.5 billion) for last year, down 13.3 per cent from 2011 and around 7.5 per cent lower than analysts' average estimates.

22 Mar 2013 - 4:38am