|Bid||51.87 x 800|
|Ask||0.00 x 800|
|Day's Range||51.76 - 52.49|
|52 Week Range||47.65 - 78.50|
|Beta (3Y Monthly)||1.15|
|PE Ratio (TTM)||11.78|
|Forward Dividend & Yield||2.32 (4.46%)|
|1y Target Est||82.15|
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.
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
TOTAL (TOT) gets approval to go ahead with the $13-billion Papua New Guinea LNG project, which will help it to benefit from rising demand of LNG in emerging economies.
SAO PAULO/RIO DE JANEIRO (Reuters) - Brazil's planned privatisation of eight Petroleo Brasileiro SA refineries has lured several of the world's largest trading and oil companies as prospective bidders, two sources with knowledge of the matter said. Around 20 companies have signed non-disclosure agreements granting them access to the refineries' data and signalling that they are considering a bid, the sources added, speaking on condition of anonymity to disclose private details of the sale. The first round of non-binding offers for four of the eight refineries Petrobras put on the block is due on Oct. 11, the sources said.
LONDON/SINGAPORE (Reuters) - Italian oil major Eni , China's overseas energy unit PetroChina and two trading houses are vying to supply liquefied natural gas (LNG) to Pakistan in one of the largest tenders ever worth billions of dollars, two sources familiar with the matter said on Friday. The 240-cargo 10-year tender, which is likely to be worth from $5 billion (£3.99 billion) to $6 billion according to Reuters calculations and the estimates of another source based on current market conditions, was issued last month and closed on Thursday. Pakistan is expected to be a significant growth driver in global LNG demand, with Wood Mackenzie estimating the country will need 25 million tonnes a year as domestic supplies dwindle and its economy grows.
Chinese oil refiners want changes to tax laws on the consumption and sale of fuel oil in order to start producing low-sulphur marine fuel when new global clean fuel rules start in 2020, four executives at Chinese oil companies said this week. China's central government must waive a 1,218 yuan (141 pounds) per tonne consumption tax and offer rebates of the 13% value-added tax currently levied on fuel oil to allow the country's refiners to economically produce the very low-sulphur fuel oil (VLSFO) needed to meet the rules, officials at China Chemical and Petroleum Corp, PetroChina and China National Offshore Oil Co said.
If the plan to modify Chevron's (CVX) Kitimat facility to an 'all-electric' design materializes, the project will boast the lowest emission intensity among all large-scale LNG projects in the world.
While China's efforts to increase output may offset production decline from aging oilfields, it is not likely to reduce its dependence on foreign oil and gas imports.