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Petrochina

Asia

PetroChina may sell Australian, Canadian assets to stem losses

PetroChina may exit natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa, and central Asia, reported Reuters, citing people with knowledge of the matter.

Asia

Buyers question ‘carbon-neutral LNG’ cargo credentials

Over the past year or so, liquefied natural gas (LNG) producers, as well as buyers in North Asia, particularly Japan, have been quick to announce their involvement with so called ‘carbon-neutral LNG’ cargoes. However, some LNG buyers at the Future Energy Asia conference questioned whether LNG can really be carbon neutral.

Asia

Pertamina and PetroChina team up for Jabung in Indonesia

Pertamina and PetroChina have made a joint proposal to operate the Jabung Block in Indonesia’s Jambi province when the current contract expires in 2023. The move marks a significant turning point, as before Pertamina would automatically takeover key legacy production-sharing contracts (PSCs) set to expire.

Asia

Chinese oil majors undervalued

Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.

Oil & Gas

Big oil has a long way to go on setting emissions targets

Just five of the 39 largest oil and gas companies have announced carbon-reduction targets that match levels needed to avoid a 2-degree Celsius temperature increase. And only 20 have taken initial steps to disclose how they plan to lower emissions produced by both their operations and electricity use, known respectively as Scope 1 and Scope 2.

Asia

China oil giants cash in with pipeline deals worth $56bn

China’s biggest oil and gas companies finalized deals worth $56 billion to sell their pipeline networks to a new national carrier at premiums to their book value, a long-awaited step that’s being seen as a boost for investors.

Asia

Asian NOCs set to maintain domestic upstream spend

While most international oil companies (IOCs) have stated they will make major spending cuts this year in response to the downturn, Asian national oil companies (NOCs) are expected to maintain domestic upstream spending to help employment and economic activity levels.

Asia

China’s oil giants to splurge most in five years

China’s oil giants aim to spend the most in five years in pursuit of higher energy output. But unlike global rivals investing in top-tier assets, the state-owned producers are trying to boost supply from fields that are either old and high-cost or new and challenging.