Seeking Alpha

PetroChina re-evaluates LNG production

  • 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.
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