Streetbeat News

PCCYF

PetroChina Co. Ltd.

http://www.petrochina.com.cn

Employees

417,173

Industry

Crude Petroleum and Natural Gas Extraction

Open

N/A

Mkt cap

N/A

Volume

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High

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P/E Ratio

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52-wk high

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Low

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Div yield

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52-wk low

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The article discusses the rapid intensification of Hurricanes Milton and Helene, highlighting the role of climate change and warm ocean waters. It mentions ExxonMobil and other oil companies, linking their activities to greenhouse gas emissions. The article also notes operational disruptions for Chevron and other oil companies in the Gulf due to the hurricanes.

Portfolio Pulse from Anthony Noto

October 09, 2024 | 10:47 pm

Exxon Mobil Corp (XOM) has filed a lawsuit against its investors to block a climate proposal from being voted on at its May shareholder meeting. The proposal, backed by Arjuna Capital and Follow This, calls for Exxon to set Scope 3 emissions reduction targets. Exxon argues the proposal is driven by an extreme agenda and does not promote shareholder value. The company has faced recent challenges, including anticipated Q4 impairments and exiting the West Qurna 1 oilfield in Iraq, now led by PetroChina Co Ltd (PCCYF).

Portfolio Pulse from Benzinga Neuro

January 22, 2024 | 4:55 am

Exxon Mobil Corp (XOM) has exited the West Qurna 1 oilfield in Iraq, transferring operations to PetroChina Co., Ltd. (PCCYF), which now becomes the lead contractor. The oilfield produces approximately 550,000 barrels per day and has over 20 billion barrels of estimated recoverable reserves. ExxonMobil's departure marks its exit from Iraq's energy sector, while PetroChina now holds the largest stake in the field. The deal was finalized in a meeting with senior Iraqi oil officials, ExxonMobil, PetroChina, and Basra Oil Co. ExxonMobil's shares are trading higher by 0.85% at $100.83 in premarket.

Portfolio Pulse from Lekha Gupta

January 02, 2024 | 12:20 pm

China's international policy stance and its reaction to global events, particularly the Hamas attacks in Israel, could potentially affect its trade growth and global status as a major trading partner. The country's focus on improving its international relations is crucial as its economic growth seems to be declining. The International Monetary Fund has revised down China's growth prospects for this year and next to 4.2%. Despite the country's property rout over the past year, exporter stocks such as PetroChina, Li Auto, BYD, XPeng have offered investors a silver lining as the Chinese government has invested heavily in its energy and innovation sectors.

Portfolio Pulse from Daniel Harrison

October 11, 2023 | 2:30 pm

China International Marine Containers (CIMC) reported worse-than-expected H1 2023 earnings due to macroeconomic pressures, with revenue down 16% YoY. However, its EV subsidiary, CIMC Vehicles, saw a 20% increase in revenue. The overall poor performance of CIMC impacted its stock, while the success of CIMC Vehicles boosted its shares. Other exporter-related shares and energy-efficient vehicle stocks showed mixed results.

Portfolio Pulse from Daniel Harrison

October 05, 2023 | 4:18 pm

Hong Kong shares fell due to fears of a challenging climate for Chinese exporters and property market issues. Chinese exports fell 8.8% YoY in August, with shipments to the US down 9.5%. Shares of Fosun International, Sinopec Shanghai Petrochemical, PetroChina, Alibaba, and CMOC Group were down 1-2%. EV makers BYD, Li Auto, and NIO also saw declines. Real estate sales from China's top 100 developers were down 29.9% YoY in September. China SCE Group defaulted on $1.8 billion of offshore bonds, and China Evergrande Group's shares plunged 12%.

Portfolio Pulse from Daniel Harrison

October 04, 2023 | 8:13 pm

Hong Kong-listed and Chinese companies are increasing stock buybacks and dividend payouts as their domestic markets remain depressed. This trend is expected to continue throughout the year. In 2022, Hong Kong stock buybacks amounted to $13.4 billion. The Hang Seng Index forecasts that the buyback trend will continue to over $90 billion of stock buybacks by year-end. Record dividend payouts by China’s biggest firms, including Bank of China Ltd. and PetroChina Co Ltd., have reached $206 billion so far this year. Among the Hong Kong companies buying back their shares are Yum China, Tencent, HSBC Holdings Plc., Hanison Construction Holdings Ltd., Bank of East Asia Limited, Cosco Shipping Development Co Ltd, Li Ning Co. Ltd. and Dongfeng Motor Co. Ltd.

Portfolio Pulse from Daniel Harrison

September 20, 2023 | 3:45 pm

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