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.

Oil demand predicted to slacken in second half on the mainland

Demand for oil on the mainland may only rise by 4 per cent during the second half of the year compared to a year ago, a senior researcher with PetroChina says. That would be 10 percentage points less than the 14 per cent growth recorded in the first half.

Saturday, 7 August, 2010, 12:00am

Brightoil sets sights on US, Europe

Brightoil Petroleum, Shenzhen's largest fuel supplier to ocean-going vessels, is poised to enter markets in Europe and the United States after posting a 155 per cent jump in first-half profit.

3 Mar 2010 - 12:00am

Daqing still a model, for now

For PetroChina, Asia's largest oil and gas producer and one of the region's most profitable companies, the old Cultural Revolution slogan 'Learn from Daqing ' would arguably read better as 'Earn from Daqing'.

As the nation's largest oilfield and one of the longest-producing major fields in the world, Daqing is PetroChina's crown jewel.

1 Oct 2009 - 12:00am

Oil refiners mixed after Beijing boost fuel prices

Shares in the mainland's two leading oil refiners were mixed yesterday after Beijing said it would raise fuel prices by less than was needed to make up for last month's higher crude costs.

Analysts said if the oil price remained at about US$70 a barrel for the next two months, another price rise would be needed for refiners to avert losses next month.

3 Sep 2009 - 12:00am

Xinao to expand user base as profit surges

Xinao Gas Holdings aims to increase the number of customers connecting to its mainland piped-gas network about 28 per cent after net profit rose 24.27 per cent to 630.71 million yuan (HK$716.12 million) last year.

10 Apr 2009 - 12:00am

Sinopec net falls 47.3pc but earnings leap forecast

China Petroleum & Chemical Corp (Sinopec), the country's second-largest oil and gas producer, expects its first-quarter net profit to surge more than 50 per cent as it unveiled a less than expected 47.3 per cent net profit decline for last year.

30 Mar 2009 - 12:00am

Oil firms' exploration spending drops 13.8pc

Mainland energy producers spent 13.8 per cent less on exploration in the first two months of the year compared with a year earlier, after international oil prices fell sharply in the second half of last year.

12 Mar 2009 - 12:00am

Investors chase appliance makers' shares on measures to boost sales

Investors bought mainland electronic appliances producers' shares but sold oil and petrochemical stocks yesterday after Beijing unveiled subsidy policies to boost home appliance sales but offered nothing concrete for the petrochemical sector.

21 Feb 2009 - 12:00am

Xinjiang seen key to oil output growth

The mainland's two state-controlled onshore oil and gas majors have set bold expansion goals in the remote northwestern Xinjiang province, a growth area key to their efforts to offset slow or negative output growth in their mainstay oilfields.

31 Jan 2009 - 12:00am

Oil levy payment points to 29pc drop in CNPC pre-tax earnings

China National Petroleum Corp (CNPC), the country's largest oil and gas producer, may have recorded a 29.1 per cent decline in pre-tax profit last year, a mainland newspaper said.

21 Jan 2009 - 12:00am

PetroChina to buy assets for 5.3b yuan

PetroChina, the country's largest oil producer, will pay 5.3 billion yuan (HK$6.01 billion) in cash to buy six oil and gas exploitation units from its parent.

It said the acquisition fitted its expansion strategy in tapping the oil and gas exploitation sectors.

The units are in Sichuan, Xian, Jilin, Tianjin, Liaohe region and other parts of northern China.

20 Nov 2008 - 12:00am

PetroChina loses top value rank to ExxonMobil

PetroChina has lost its crown as the world's most valuable company to ExxonMobil Corp following the stock market slump, as the nation's largest oil producer celebrated the first anniversary of its A-share listing.

7 Nov 2008 - 12:00am

Mainland coal stocks end lower on price-cap fears

Mainland coal stocks slumped yesterday on investor jitters that new regulatory price caps could eat into producers' profits, but Yanzhou Coal Mining eased some concern saying that its first half profit had probably more than tripled.

26 Jul 2008 - 12:00am

China Petrochemical gets 2.51b yuan rebate

China Petrochemical Corp, parent of listed China Petroleum & Chemical (Sinopec), has received 2.51 billion yuan (HK$2.87 billion) of tax rebate on fuel imports in the second quarter.

5 Jul 2008 - 12:00am

Price rise spurs buying of oil and power shares

Mainland stocks surged yesterday as investors snapped up shares in oil refiners and power producers, which stand to gain from the fuel price increases announced on Thursday.

21 Jun 2008 - 12:00am