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PTR

PetroChina Company Limited

6/19/2013, 3:17 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Tuesday, June 18, 7:40 AM China National Petroleum (PTR) and France's Total (TOT) reportedly are set to finalize an agreement with Tethys Petroleum (TETHF.PK) to develop oil and gas assets in Tajikistan. "Based on the audited figure, there is enough gas in Tajikistan in our area to supply China's natural gas demand in the next 25 years," Tethys' executive chairman says. Comment! [Energy]
Friday, June 14, 11:16 AM PetroChina (PTR -3.6%) discloses a ~$3.3B investment in a new joint venture to construct oil and natural gas pipelines in China. Comment! [Energy, On the Move]
Monday, June 10, 12:25 PM China National Petroleum (PTR) says it expects to firm up a draft agreement to join a large refinery project in Ecuador and expand its oil exploration efforts there by the end of this year. CNPC, which produces more oil and gas than any other Chinese company, already owns four oil-and-gas blocks in Ecuador. Comment! [Energy]
Tuesday, June 4, 12:38 PM The NYT examination of how China is reaping the biggest energy benefits from post-war Iraq angers some, but China’s terms of engagement with Iraq are familiar in African countries: They gather the resources quickly, efficiently and to the benefit of themselves and the governments of the host country. Chinese companies are willing to take Iraq's terms, which are often rejected by big Western oil companies. 1 Comment [Energy, Global & FX]
Tuesday, June 4, 11:26 AM A major increase in planned activity in the Middle East and other parts of Asia will drive a 10% rise in global energy exploration and production spending to a record high $678B this year, according to a Barclays survey which also foresees PetroChina (PTR) as the largest spender on E&P in the world in 2013, overtaking Exxon Mobil (XOM) for the first time. Comment! [Energy, Global & FX]
Thursday, May 23, 8:39 AM PetroChina (PTR) says it will seek to increase cooperation with companies including Exxon (XOM), BP, Shell (RDS.A), Chevron (CVX) and Eni (E), potentially teaming up to make acquisitions or joint exploration activities, as it makes expansion abroad a priority. PTR plans to invest ~$60B this decade in global oil and natural gas assets to increase the share of overseas output to half of its total. 3 Comments [Energy]
Wednesday, May 22, 8:36 AM Cleantech Solutions (CLNT) +22.2% premarket on news it has become a certified supplier of components to Sinopec (SNP) and China National Petroleum (PTR). As a certified supplier, CLNT is able to market its components to the subsidiary companies of Sinopec and CNPC throughout China, CEO Jianhua Wu says. Comment! [Energy, On the Move]
Monday, May 20, 10:47 AM Abu Dhabi’s state oil company is under pressure to take a quick decision on which foreign companies will get concessions in one of the few major oil producing areas in the Persian Gulf where international companies are still allowed to hold an equity interest. Prequalified companies are BP, XOM, RDS.A, TOT, STO,OXY, E, PTR, OJSCY.OB, Inpex, Korea National Oil. Comment! [Energy, Global & FX]
Friday, May 17, 5:31 PM Venezuela reportedly will allow its state-owned energy company to form joint ventures with PetroChina (PTR) and Chevron (CVX) to manage $6B in loans designed to reverse declining oil output. Agreements have been reached on terms of a $2B credit from CVX for the Petroboscan venture and a $4B loan from China for Sinovensa. Similar deals may be in the works with Shell (RDS.A) and Repsol. 5 Comments [Energy, Global & FX]
Wednesday, May 8, 8:39 AM PetroChina (PTR) is in talks to acquire Brazilian oil startup Barra Energia Petroleo e Gas for ~$2B, Bloomberg reports. Barra has stakes in two projects in the Santos Basin near Brazil’s largest offshore discoveries. The talks highlight Asian interest in Brazilian oil assets: Malaysia's Petronas is paying $850M for a 40% stake in a field owned by OGX Petroleum in Brazil’s Campos Basin. Comment! [Energy, Global & FX]
Friday, April 26, 6:38 AM PetroChina (PTR): Q1 Basic EPS of RMB0.20. Net profit of RMB36.0B (-8% Y/Y). (PR) Comment! [Earnings, Breaking News]
Thursday, April 25, 11:24 AM PetroChina (PTR +2%) reports Q1 net profit fell 8% Y/Y to 36B yuan ($5.8B) from 39.15B yuan due to lower realized crude prices and losses in refining and chemical businesses. Crude oil output rose 1.8% to 231M barrels, with the average selling price falling 2.3% to $103.08/bbl. Comment! [Energy, Earnings, On the Move]
Friday, April 5, 5:45 PM A recent report from Barclays highlights energy stock opportunities from around the world, with expectations running especially high for U.S. refiners such as VLO and TSO despite losses this week. U.S. E&P companies expected to do well are EOG, NBL and APC. CVX is cheaper than integrated rivals, and SU offers top risk-reward potential. In Asia, go-to names are PTR and SNP. 1 Comment [Energy, Global & FX, Quick Ideas]
Wednesday, March 27, 3:36 PM Eni (E) is considering opening its business in Iraq to investment by Chinese oil company CNPC after offering it a stake in its bumper Mozambique gas field earlier this month, Reuters reports. Eni, Occidental Petroleum (OXY) and South Korea's Kogas signed a 20-year deal with Iraq in 2010 to develop the Zubair oilfield, where production is ~270K bbl/day. Comment! [Energy, Global & FX]
Tuesday, March 26, 3:38 PM China will cut domestic prices for gasoline and diesel fuel by ~$50/metric ton effective Wednesday, a move that could hurt consumers and business if prices surge but could benefit refiners. The changes are a boon for China's major oil companies such as Sinopec (SNP +1.2%), which have long complained the old system artificially depressed their earnings. Comment! [Energy, Global & FX]
Thursday, March 21, 8:08 AM PetroChina (PTR) reports a 13% Y/Y decline in 2012 net profit despite increased production, hit by a slowdown in the growth rate of the Chinese economy. Revenue rose 9.6% to 2.2T yuan due to increases in selling prices of oil products. Produced 1.3M boe of crude oil and natural gas, 4.5% more than in 2011. Says it will continue to speed up overseas acquisitions. Comment! [Energy, Global & FX]