Topic
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.
TOPIC
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.
- China’s biggest oil producer will tap wind, solar and geothermal resources as it steps up efforts to help the country cut emissions
- It reported net profit of US$14.53 billion for 2021, thanks to a rise in international energy prices and a recovery in China’s economy
Notwithstanding the unfortunate casualties, the Russia-Ukraine war is threatening to disrupt supply chains. Chinese oil and mining groups are some of the early stock market winners.
Notwithstanding the unfortunate casualties, the Russia-Ukraine war is threatening to disrupt supply chains. Chinese oil and mining groups are some of the early stock market winners.
Authorities say the subsidiary of PetroChina was involved in irregular reselling of crude totalling 179.5 million tonnes to 115 local refineries, ‘severely’ disrupting markets.
Authorities say the subsidiary of PetroChina was involved in irregular reselling of crude totalling 179.5 million tonnes to 115 local refineries, ‘severely’ disrupting markets.
China’s second release from its state oil reserves could again amount to around 7.38 million barrels following a 50 million barrel commitment from US President Joe Biden.
China’s second release from its state oil reserves could again amount to around 7.38 million barrels following a 50 million barrel commitment from US President Joe Biden.
The rising price of diesel has come at a critical time for China’s logistics industry, ahead of the peak Singles’ Day shopping and delivery season.
The rising price of diesel has come at a critical time for China’s logistics industry, ahead of the peak Singles’ Day shopping and delivery season.
PetroChina says investments on low-carbon energy projects are likely to reach one-third of overall spending by 2035, as it helps the country fight climate change.
PetroChina says investments on low-carbon energy projects are likely to reach one-third of overall spending by 2035, as it helps the country fight climate change.
Hong Kong stocks tumbled as technology stocks suffered from lingering regulatory angst with Baidu reaching a new post-IPO low. Markets were also unnerved by rising Covid-19 cases in the region.
Hong Kong stocks tumbled as technology stocks suffered from lingering regulatory angst with Baidu reaching a new post-IPO low. Markets were also unnerved by rising Covid-19 cases in the region.
Hong Kong stocks ended a two-day losing streak following an official report indicating the city’s economy grew last quarter by more than economists predicted, buoying risk appetite.
Hong Kong stocks ended a two-day losing streak following an official report indicating the city’s economy grew last quarter by more than economists predicted, buoying risk appetite.
PetroChina, the country’s largest oil and gas producer, expects crude oil demand to peak and then fall within the next 10 years, as China pursues a goal for carbon dioxide to peak by 2030.
PetroChina, the country’s largest oil and gas producer, expects crude oil demand to peak and then fall within the next 10 years, as China pursues a goal for carbon dioxide to peak by 2030.
Hang Seng Index rises 1.9 per cent to its highest level since June 2018, with most benchmark constituents enjoying gains.
Hang Seng Index rises 1.9 per cent to its highest level since June 2018, with most benchmark constituents enjoying gains.
China’s big telcos slumped in Hong Kong before a late buying support helped limit losses triggered by the New York Stock Exchange’s decision to delist their American depositary receipts.
China’s big telcos slumped in Hong Kong before a late buying support helped limit losses triggered by the New York Stock Exchange’s decision to delist their American depositary receipts.
Kunlun Energy, a PetroChina subsidiary, will sell a 60 per cent stake in a Beijing gas pipeline and a 75 per cent stake in its Dalian LNG company to PipeChina.
Kunlun Energy, a PetroChina subsidiary, will sell a 60 per cent stake in a Beijing gas pipeline and a 75 per cent stake in its Dalian LNG company to PipeChina.
CNOOC shares slumped in Hong Kong on concerns the Trump administration will impose new sanctions on the Chinese oil exploration giant. The act could paralyse its international operations, analyst warns.
CNOOC shares slumped in Hong Kong on concerns the Trump administration will impose new sanctions on the Chinese oil exploration giant. The act could paralyse its international operations, analyst warns.
Hang Seng Index approached the highest point in March, recouping almost all of the pandemic-induced slump, as more drug makers reported positive results from their experimental Covid-19 vaccine late-stage trials.
Hang Seng Index approached the highest point in March, recouping almost all of the pandemic-induced slump, as more drug makers reported positive results from their experimental Covid-19 vaccine late-stage trials.
PipeChina, formed in December, pays a 43 per cent premium above the net asset value for Sinopec Kantons’ 900km Yulin-Jinan pipeline.
PipeChina, formed in December, pays a 43 per cent premium above the net asset value for Sinopec Kantons’ 900km Yulin-Jinan pipeline.
Study conducted by watchdog finds gap between retail and import prices of fuel has doubled over past seven years.
Study conducted by watchdog finds gap between retail and import prices of fuel has doubled over past seven years.
Fuel retailers say there a range of factors for the delay in lower prices to be reflected at the pump, including high inventory levels, government tax, salaries and above all, land costs.
Fuel retailers say there a range of factors for the delay in lower prices to be reflected at the pump, including high inventory levels, government tax, salaries and above all, land costs.
China relies on oil imports for over 70 per cent of its domestic consumption, but a glut of cheap supply in the global market is creating anxiety in the world’s second largest economy.
China relies on oil imports for over 70 per cent of its domestic consumption, but a glut of cheap supply in the global market is creating anxiety in the world’s second largest economy.
Stocking up on large quantities of oil costing little more than zero is not feasible due to limited storage capacity, analysts said, after Monday saw WTI contracts for May delivery fall into negative pricing
Stocking up on large quantities of oil costing little more than zero is not feasible due to limited storage capacity, analysts said, after Monday saw WTI contracts for May delivery fall into negative pricing
The oil and gas industry faces its worst downturn in 20 years as a price war rages between Saudi Arabia and Russia and coronavirus dampens demand
The oil and gas industry faces its worst downturn in 20 years as a price war rages between Saudi Arabia and Russia and coronavirus dampens demand
Traders took comfort in signs that the coronavirus outbreak appears to be easing in Asia leading them to believe that the dampening effect on the financial markets and economies would only be temporary.
Traders took comfort in signs that the coronavirus outbreak appears to be easing in Asia leading them to believe that the dampening effect on the financial markets and economies would only be temporary.
China's state-backed oil giants, facing potential steep losses, are likely to slash spending on projects and pay smaller dividends after oil prices plunged to the lowest level in four years, according to Sanford C. Bernstein.
China's state-backed oil giants, facing potential steep losses, are likely to slash spending on projects and pay smaller dividends after oil prices plunged to the lowest level in four years, according to Sanford C. Bernstein.
There is little chance of a recession in 2020 and oil prices would need to spike for a long period to cut into GDP forecasts, according to BNP Paribas Wealth Management.
There is little chance of a recession in 2020 and oil prices would need to spike for a long period to cut into GDP forecasts, according to BNP Paribas Wealth Management.
China manufacturing slumps for sixth straight month; Shanghai declines for third straight day.
China manufacturing slumps for sixth straight month; Shanghai declines for third straight day.
In a first, more Chinese companies have made it to Fortune magazine’s list of the world’s top 500 firms this year, than from the US. A total of 129 companies, including 10 from Taiwan, were ranked among the world’s biggest firms by operating revenue, according to a list released on Monday.
In a first, more Chinese companies have made it to Fortune magazine’s list of the world’s top 500 firms this year, than from the US. A total of 129 companies, including 10 from Taiwan, were ranked among the world’s biggest firms by operating revenue, according to a list released on Monday.
Storing the oil will enable Petrobras to sell smaller parcels of oil promptly to the teapots, which account for about a fifth of China’s crude import demand.
Storing the oil will enable Petrobras to sell smaller parcels of oil promptly to the teapots, which account for about a fifth of China’s crude import demand.