PetroChina re-evaluates LNG production

|About: PetroChina Company Limited (PTR)|By:, SA News Editor

PetroChina (NYSE:PTR) is re-evaluating its multi-billion-dollar push for LNG production, due to the rising cost of the gas and China's slower growth rate that has reduced demand.

An anti-corruption probe of PetroChina's top executives also adds to the uncertainty of the company's business strategy.

PetroChina shut two loss-making gas liquefaction plants in the past month, with neither plant having a clear restart date.