All articles on PetroChina

CNOOC Announces Profits, New Investment
According to analysts, the P/E ratios of Chinese oil companies have dropped to reasonable levels. With oil prices around $40 per barrel, the dynamic P/E ratios of PetroChina, Sinopec, and CNOOC stand at 6.3, 8.9, and 14.4, respectively, quite reasonable according to historical P/E and their expected future growth.
March 16th,2009
PetroChina Plans Expansion of Global Oil/Gas Supply Network
PetroChina is planning to complete arrangements for five oil and gas cooperation areas worldwide within 8 to 10 years, and to increase its overseas oil and gas production to 200 million tons.
March 19th,2009
China and Venezuela Strengthen Oil Alliance
China and Venezuela plan to establish a joint venture crude oil exploiting company in Venezuela, with Venezuela holding a 60% stake and China the other 40%. To facilitate oil transportation, the two sides will also found a shipping company, split evenly between them.
April 9th,2009
PetroChina and KazMunaiGaz Team Up To Acquire Kazakhstan's MMG
Besides the $5 billion loan from PetroChina, the Export-Import Bank of China will also lend the company $5 billion for oil and gas development and infrastructure construction in Kazakhstan.
April 25th,2009
PetroChina-Led Refinancing to Put Great Pressure on A-share Market
Now additional-offering plans of nearly 200 companies are in the works. If all these plans go through, the total scale of refinancing will exceed 600 billion yuan, putting enormous pressure on China's stock markets.
May 8th,2009
PetroChina Issues Big Debt to Fund Domestic, Overseas Expansion
Now is a good opportunity for oversea M&A," said Mr. Jiang.
May 13rd,2009
China's Diesel Shortage Moves North, Hits Shanghai
South China's two-week-old diesel shortage is now spreading northwards and has begun to affect the Shanghai area. The Shanghai Economic Commission declared last weekend that the city's diesel reserve can meet only 10 days' demand. Meanwhile, calls for a lifting of retail price controls, or at least a rise in oil product prices, are again being heard.
March 24th,2008
China's Oil Future Market Stymied by PetroChina and SinoPec
The higher the international crude oil price is, the less likely China is to establish a crude oil futures market in a short period.
June 5th,2009
PetroChina, SinoPec and CNOOC Grab Oil Assets Ahead of Recovery
In the wake of the financial crisis, state oil companies have taken a leading role in M&A market with China's national petroleum corporations assuming a dominant position.
June 12nd,2009
Chinese Oil Giants Making Their Way into Iraq
Iraq is becoming an increasingly important blot on the map for Chinese oil companies' overseas expansion. Four Chinese firms are bidding for oil fields in Iraq, offering to provide funding and technology to Iraq companies that are anxious to resume their own production.
June 26th,2009
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