Post Tagged with: "PetroChina"

PetroChina Plans Biggest Capital Expenditure in Four Years

PetroChina Plans Biggest Capital Expenditure in Four Years

From Reuters

PetroChina, Asia’s largest oil and gas producer, plans to boost capital spending to 300 billion yuan ($45 billion) in 2019, up 17 percent from last year, a company filing to the Hong Kong Stock Exchange showed.

The surge …

March 21, 2019 - 4:56 pm
(FILES) This file photo dated 08 September, 2004 shows a PetroChina gas station attendant in Beijing returning the nozzle at the pumps.  Fidelity Investments, the world's largest mutual fund firm, has sold the bulk of its American Depositary Receipts (ADR) in PetroChina amid pressure from United States activists upset over its parent's interests in Sudan, reports said 17 May 2007.  AFP PHOTO / FILES / Frederic J. BROWN

PetroChina Inks Its Biggest Qatar LNG Deal as U.S. Trade at Risk

From Bloomberg

PetroChina Co. signed a deal with Qatargas Operating Co. to purchase 3.4 million tons of liquefied natural gas annually, the Chinese company’s biggest supply deal, amid a brewing trade war with the U.S. that threatens to stifle the …

September 10, 2018 - 8:18 am
Cheniere's Corpus Christie Plant

More U.S. Gas Earmarked for China: Cheniere, CNPC Go Long-Term

Cheniere Energy, Inc. (ticker: LNG) has entered into two LNG sale and purchase agreements (SPA) with China National Petroleum Corporation (CNPC).

Under the SPAs with Cheniere’s subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Marketing International LLP, CNPC subsidiary PetroChina International …

February 9, 2018 - 2:51 pm
(FILES) This file photo dated 08 September, 2004 shows a PetroChina gas station attendant in Beijing returning the nozzle at the pumps.  Fidelity Investments, the world's largest mutual fund firm, has sold the bulk of its American Depositary Receipts (ADR) in PetroChina amid pressure from United States activists upset over its parent's interests in Sudan, reports said 17 May 2007.  AFP PHOTO / FILES / Frederic J. BROWN

Is China’s Energy Sector Becoming a Dinosaur?

“We are a big elephant already. If we don’t reform ourselves faster, we will become a dinosaur” – Fu Chengyu, former Chairman of Sinopec and CNOOC

China’s oil and gas industry is at risk of falling behind the times, according …

December 1, 2016 - 4:47 pm
Chinese Oil Production Down 11% – Daily Production Hits 7-Year Low

Chinese Oil Production Down 11% – Daily Production Hits 7-Year Low

Uncertainty over oil prices is hurting Chinese oil production

Daily oil production in China – the world’s second-largest crude consumer after the United States – fell to a seven-year low in October, according to data from the country’s statistics bureau. …

November 14, 2016 - 1:20 pm
(FILES) This file photo dated 08 September, 2004 shows a PetroChina gas station attendant in Beijing returning the nozzle at the pumps.  Fidelity Investments, the world's largest mutual fund firm, has sold the bulk of its American Depositary Receipts (ADR) in PetroChina amid pressure from United States activists upset over its parent's interests in Sudan, reports said 17 May 2007.  AFP PHOTO / FILES / Frederic J. BROWN

PetroChina Income Down 94%, But the Company May Be Looking to Expand Internationally

Low oil prices continue to hurt Chinese oil major PetroChina

China’s largest crude oil and natural gas producer, PetroChina (ticker: PTR), released its third-quarter results today, reporting substantially lower income amid the global crude oil glut. Net income during the …

October 28, 2016 - 4:39 pm
Job Security Comes at a Price for Chinese Oil and Gas Companies

Job Security Comes at a Price for Chinese Oil and Gas Companies

Maintaining employment strains Chinese oil and gas firms’ shrinking profits

Many international oil and gas companies have responded to the steep drop in prices since November 2014 by cutting expenditures. Companies have achieved better financial metrics by increasing efficiencies in …

March 29, 2016 - 5:27 pm
Beijing Turns Down the Heat As Natural Gas Demand Outpaces Supply

Beijing Turns Down the Heat As Natural Gas Demand Outpaces Supply

Delays in natural gas supplies force offices and public buildings to turn down the thermostat

Offices, malls, supermarkets and other buildings in Beijing have been told to lower their heat to no higher than 14 degrees Celsius (57 degrees Fahrenheit) …

December 28, 2015 - 4:49 pm
(FILES) This file photo dated 08 September, 2004 shows a PetroChina gas station attendant in Beijing returning the nozzle at the pumps.  Fidelity Investments, the world's largest mutual fund firm, has sold the bulk of its American Depositary Receipts (ADR) in PetroChina amid pressure from United States activists upset over its parent's interests in Sudan, reports said 17 May 2007.  AFP PHOTO / FILES / Frederic J. BROWN

PetroChina Wins Dismissal of U.S. Lawsuit

Investors sue PetroChina for violating U.S. securities laws

U.S. District Judge Edgardo Ramos in Manhattan dismissed claims against Chinese oil giant PetroChina (ticker: PTR) regarding declines in the company’s share price after company officials were included in an anti-graft probe …

August 5, 2015 - 4:11 pm
China Considering Mega-Mergers

China Considering Mega-Mergers

The Chinese government is considering merging state-owned oil companies in order to increase efficiency.

China is considering mergers of its state-run oil companies in order to create national champions that could compete with the likes of ExxonMobil (ticker: XOM) and …

February 17, 2015 - 3:35 pm