PTR - PetroChina Company Limited
47.70 -0.13 (-0.26%)
After hours: 4:26PM EST
| Previous close | 46.41 |
| Open | 47.00 |
| Bid | 47.83 x 900 |
| Ask | 47.86 x 900 |
| Day's range | 46.95 - 47.98 |
| 52-week range | 44.80 - 69.92 |
| Volume | 156,300 |
| Avg. volume | 100,120 |
| Market cap | 144B |
| Beta (5Y Monthly) | 1.29 |
| PE ratio (TTM) | 10.87 |
| EPS (TTM) | 4.40 |
| Earnings date | N/A |
| Forward dividend & yield | 2.33 (5.02%) |
| Ex-dividend date | 2019-09-13 |
| 1y target est | 76.05 |
- Reuters
Landmark Siberian gas to test CNPC's marketing mettle in China's backwaters
HARBIN, China/SINGAPORE/MOSCOW (Reuters) - Across China's coal-burning northeastern provinces, pipelines are being laid, contracts signed and coal-fired boilers ripped out ahead of the arrival next week of the country's first piped natural gas from Russia. The 'Power of Siberia' pipeline, due to open on Dec. 2, will pipe natural gas around 3,000 km (1,865 miles) from Russia's Siberian fields to the fading industrial region, which has lagged the push to gas in China's south and east. The pipeline - which will deliver gas under a 30-year, $400 billion (£312 billion) deal signed in 2014 - has the potential to transform northeast China's energy landscape and even slow the country's surging imports of liquefied natural gas (LNG).
- Zacks
Oil & Gas Stock Roundup: Linde, Helmerich & Payne Earnings Top
Linde plc (LIN) and Helmerich & Payne Inc. (HP) reported better-than-expected September quarter earnings.
- Zacks
The Zacks Analyst Blog Highlights: Alphabet, Amazon, Johnson & Johnson, Boeing and PetroChina
The Zacks Analyst Blog Highlights: Alphabet, Amazon, Johnson & Johnson, Boeing and PetroChina
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Top Analyst Reports for Alphabet, Amazon & Johnson & Johnson
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- Zacks
PetroChina (PTR) Q3 Earnings Miss Despite Upstream Strength
Higher oil and gas production and drop in lifting costs helped PetroChina's (PTR) exploration and production unit profit surge 32.9% during the nine months ended Sep 30, 2019.
- Reuters - UK Focus
UPDATE 3-UAE oil benchmark plan confused by Brent comment U-turn
A United Arab Emirates plan to launch its own global oil benchmark was thrown into confusion on Tuesday after comments made by its own national oil company. ADNOC first said it sees Murban as a contract to replace the global Brent benchmark, only to retract the comment.
- Reuters - UK Focus
UPDATE 4-Oil majors partner in new exchange listing ADNOC's Murban crude -ICE
Intercontinental Exchange Inc said on Monday that oil majors including BP, Total and Shell would be partners in a new exchange it is launching in the United Arab Emirates next year to list Abu Dhabi National Oil Co's (ADNOC) flagship Murban crude grade. The Murban futures contract, to be hosted on the new ICE Futures Abu Dhabi (IFAD), would replace retroactive pricing, allowing buyers to hedge risks and capture more value from ADNOC's oil output, CEO Sultan al-Jaber told an energy forum in the United Arab Emirates capital Abu Dhabi.
- Bloomberg
This Trade Rally Is One Tweet Away From a Crash
(Bloomberg Opinion) -- Everything is awesome in financial markets. The sense that a trade deal may finally be on the cards sent stocks and crude soaring in the U.S. Thursday, while flight-to-safety trades such as bonds and gold slumped. Both sides seem to be moving toward a phase one agreement that would involve jointly reducing tariffs in return for vaguer concessions on the underlying issues.“If there’s a phase one trade deal, there are going to be tariff agreements and concessions,” White House economic adviser Larry Kudlow told Bloomberg.“If China, U.S. reach a phase-one deal, both sides should roll back existing additional tariffs,” China’s Ministry of Commerce spokesman Gao Feng said earlier.There’s a laconic warning buried inside both of those statements: “If.”It’s certainly possible that President Donald Trump is tiring of the trade war and as desperate to get an agreement on the table as Beijing seems to think. But the current febrile atmosphere appears to have left the fundamentals of this dispute behind. A single tweet from @realdonaldtrump could be enough to puncture the party mood.Consider some of the things you might expect to be seeing if a significant agreement was really in the works. China is well aware of the importance of the bilateral trade deficit in Washington, and one of the most promising areas for any agreement is to sharply increase imports of American agricultural and mineral products.Yet China's biggest oil producer, state-owned PetroChina Co., is behaving as if the opposite plan is underway. In results last week, the company reported its trailing 12-month capital spending rose to the highest level since 2014, thanks to a government push to lessen China’s dependence on imported fuel.PetroChina’s returns on invested capital are already the worst of the oil majors, and pressure to extract more oil and gas from China’s unpromising geology will make that situation worse. A country that was serious about balancing out the trade relationship with the U.S. and making the most productive use of state companies’ cash would be looking for ways to tap America’s energy boom instead.It’s a similar case with agriculture. China could increase its imports of poultry, beef, pork and other products by as much as $53 billion just by removing current constraints on trade, according to a study last year by Minghao Li, Wendong Zhang and Dermot Hayes of Iowa State University.If anything, that’s probably low-balling it: You could add $10 billion to the total just by taking soybean imports back to where they were before the current round of trade tensions cut that trade close to zero. One only needs to look at China’s trade data released Friday to see that the opposite is happening. The surplus with the U.S. may be narrowing, but on a global, trailing 12-month basis it was the widest it’s been since May 2017. Part of that is simply the weakness of domestic demand. But hosting jazzy import conferences won’t change the fact that President Xi Jinping’s praise of zili gengsheng, or self-reliance, is just as pointed a retreat from trade as Trump’s “Make America Great Again” mantra.All this comes before even touching on issues around intellectual property, technology transfer and state involvement in the economy, which were ostensibly the reasons for this trade war in the first place. China continues to make quiet progress on the first front as if the trade war wasn’t happening; and formal technology transfer is shrinking, too, although stories of outright industrial espionage abound. On the third point, the Chinese state is, if anything, becoming an even more dominant economic actor than it was hitherto.What about this backdrop makes a deal seem so imminent? Beijing appears unlikely to make the sorts of concessions on the main issues under contention that would allow Trump to present an agreement as a personal victory. Trump, for his part, is presiding over a stock market that — thanks in part to all the optimism about a trade deal — hits fresh records every day, giving him no incentive to sign on to a deal that looks like a climb-down.Right now, markets are behaving as if the whole structure of trade impediments built up over the past two years could start getting dismantled within weeks. It’s quite as likely that, in the white heat of a breakdown, the levies suspended last month are reinstated, only to be followed by the final round still due to kick in Dec. 15. Should that come about, the current exuberance could turn into a hangover awfully quick.To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Reuters
China gas demand to surge through 2035, coal to still offer stiff rivalry - PetroChina
China's natural gas demand is expected to rise by more than 300 billion cubic metres (bcm) between 2018 and 2035, or 30% of global volume growth, stoked by the country's push to shift to the cleaner fuel from coal, a senior executive of PetroChina said on Wednesday. "It's slightly cheaper than central Asian gas but PetroChina will still be making a loss as it (the price) exceeds that of domestic city-gate benchmark rates," Ling told Reuters, speaking separately on the sidelines of the Singapore International Energy Week.
- Oilprice.com
Is China Caving To U.S. Oil Sanctions?
China’s imports of Venezuelan oil have fallen to a nine-year low as major Chinese oil companies scramble to avoid fallout from tightening U.S. sanctions
- Zacks
The Zacks Analyst Blog Highlights: Facebook, UnitedHealth, HSBC, PetroChina and Netflix
The Zacks Analyst Blog Highlights: Facebook, UnitedHealth, HSBC, PetroChina and Netflix
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Top Analyst Reports for Facebook, UnitedHealth & HSBC
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- Oilprice.com
False Optimism In Oil Won’t Last
News that U.S. production fell in July has counteracted trade war fears, but it is highly likely that July’s dip in production was due to hurricane outages
- Oilprice.com
Chinese Oil Giant Significantly Boosts Shale Reserves
State-owned energy giant PetroChina significantly boosted its shale oil and gas reserves in the Sichuan province
- Zacks
PetroChina Discovers Shale Gas Reserves in the Sichuan Basin
PetroChina (PTR) aims to extract 7.7 billion cubic meters of shale gas in 2019 while expanding the total output to nearly 10 billion cubic meters by this year-end.
- Zacks
Top Analyst Reports for AbbVie, Union Pacific & CSX
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New Strong Sell Stocks for September 18th
Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today.
- Reuters
Saudi Aramco to delay some of PetroChina's October oil loadings - source
Saudi Aramco informed PetroChina on Tuesday that some of its loadings of light crude oil for October will be delayed by up to about 10 days after Saturday's attacks on the kingdom's oil facilities, according to a senior Chinese state oil source with knowledge of the matter. The weekend attack on oil processing facilities at Abqaiq and Khurais knocked out half of the oil output from the world's top exporter, sending consumers in Asia scrambling for alternatives. The Chinese state refiner was also told that some of its September-loading light crude cargoes will be swapped to heavier grades with no delays or change in volumes, the source said.
Oilprice.comChina’s Big 3 Struggle To Ramp Up Oil Production
China’s call to its oil majors to increase energy production from domestic sources has resonated with the big 3, but production successes aren’t mind-blowing just yet
- Zacks
The Zacks Analyst Blog Highlights: United Parcel, PetroChina, Honeywell, CME and HP
The Zacks Analyst Blog Highlights: United Parcel, PetroChina, Honeywell, CME and HP
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Top Research Reports for UPS, PetroChina & Honeywell
Top Research Reports for UPS, PetroChina & Honeywell
