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.

PetroChina posts 33pc year-on-year decline in third-quarter profit

Two fuel price rises helped to lessen PetroChina's loss. Photo: AFP

PetroChina, the nation's largest oil and gas producer, posted a sharper-than-expected 33 per cent year-on-year decline in profit as three out of four of its operating segments were hit by a slower economy.

Wednesday, 31 October, 2012, 4:12am

Briefs, October 17, 2012

Baidu debuts security software in Thailand

17 Oct 2012 - 2:22am

Hong Kong stocks fall the most in nearly a month on dimmed easing hopes

Sheets of freshly made twenty dollar bills lay in stacks at the Bureau of Engraving and Printing on July 22, 2011 in Washington, DC.   Mark Wilson/Getty Images/AFP

The Hong Kong stock market had its worst day in nearly a month on Friday, as increasingly bearish investors focused on worsening corporate profits amid slowing Chinese economic growth and as hopes of monetary policy easing in China and the US in the near term look increasingly unlikely.

29 Aug 2012 - 3:05pm

Hong Kong stocks seen lower as easing speculation played down

Hong Kong stocks are expected to open lower on Friday after China said it is studying how to beef up existing property market curbs and after key players poured cold water overnight on hopes of a new round of US quantitative easing.

29 Aug 2012 - 3:05pm

PetroChina backs Beijing's call for state-private tie-ups

PetroChina's losses might ease with further gas and fuel pricing reform that is expected later in the year. Photo: Reuters

PetroChina, the nation's largest oil and gas producer, yesterday echoed Beijing's call for state-owned companies in oligopolistic industries to invite private enterprises to co-invest in major projects.

The statement came as the energy giant announced a 6 per cent year-on-year fall in first-half net profit to 62.03 billion yuan (HK$75.94 billion).

24 Aug 2012 - 2:47am

Another fuel price cut gives refiners hope

The central government has cut fuel prices for the third time in as many months to reflect lower crude costs, while analysts expect a long-awaited pricing reform to be rolled out later this year that would benefit loss-making oil refiners.

11 Jul 2012 - 12:00am

Go-ahead for private investment in SOEs

Beijing has given the all-clear for a long-awaited plan to break the monopoly of government-controlled industrial giants, putting out a guideline that encourages private investment in state-owned enterprises (SOEs).

26 May 2012 - 12:00am

China Gas shares climb as rival lifts stake

Shares of piped gas distributor China Gas rose 4.1 per cent after state-owned rival Beijing Enterprises Group raised its stake at a substantial premium to the unsolicited takeover offer of the ENN Energy Holdings-China Petroleum & Chemical (Sinopec) consortium.

8 May 2012 - 12:00am

PetroChina's Q1 profit up 5.8pc

PetroChina, the nation's largest oil-and-gas producer, posted a 5.8 per cent year-on-year rise in first-quarter net profit, as sharply higher profit from oil-and-gas production was mostly offset by widened losses in oil-refining and gas-import operations.

27 Apr 2012 - 12:00am

Energy, cement firms eye total of HK$2b in IPOs

Two mainland companies unveiled plans to go public in Hong Kong, targeting a total of HK$2 billion after earlier delaying their announcements due to poor market conditions.

14 Dec 2011 - 12:00am

Firms grapple with red tape

Globalisation turned our world into a global village. Multinational companies do business across various time zones and tax jurisdictions.

Now a report by a Big Four accounting firm shows that companies with operations in various countries are struggling to comply with increasing regulation and the growing complexity of global financial and tax reporting.

1 Nov 2011 - 12:00am

Second blaze at PetroChina plant

A fire broke out yesterday morning at a PetroChina refinery in Dalian, Liaoning, as it was about to resume full operation following a blaze last month, state media reported.

30 Aug 2011 - 12:00am

Sinopec surprises with 41b yuan first-half profit

China Petroleum & Chemical (Sinopec), the nation's second-largest oil and gas producer and the world's second-largest oil refiner, plans to continue expanding its refining operation despite losses sparked by Beijing's fuel price controls.

30 Aug 2011 - 12:00am

PetroChina to raise gas output by 66pc

PetroChina plans to double its gas pipeline network and raise gas output by two-thirds in the next five years. The strategy comes despite an analyst's warning that it may rack up 13 billion yuan (HK$15.86 billion) this year in losses from gas imports because it cannot lift domestic prices.

26 Aug 2011 - 12:00am

Rebate to cut PetroChina import loss by HK$2.4b

The Ministry of Finance will rebate natural gas importers the 13 per cent value-added tax they are paying to help cut their losses due to high import prices and low domestic prices.

24 Aug 2011 - 12:00am