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2017-01-26 18:40:00

PETROCHINA NEED BALANCE

PETROCHINA NEED BALANCE

PLATTS - PetroChina, China's biggest listed oil company by assets, expected the supply and demand for global oil market would gradually become balanced in 2017 and international oil prices would "recover," the company said late Wednesday in a profits warning for the 2016 annual result.

The company said its net profit attributable to equity holders for the year of 2016 was estimated to decrease by 70% to 80% as compared with the Yuan 35.65 billion ($5.18 billion) reported in 2015.

PetroChina attributed the deep drop to the substantial decrease in oil prices in 2016 due to fundamental oversupply.

Meanwhile, the price of domestic natural gas also declined drastically from 2015.

PetroChina is expected to release its annual results in March.

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Earlier:

CHINA: 

SOUTH CHINA SEA PETROLEUM 

CHINA'S CNOOC INVESTMENT UP TO 39% 

CHINA'S PRODUCTION DOWN 

CHINA'S OIL&GAS REFORMS 

CHINA'S ENERGY CONSUMPTION UP 1.4%

 

PETROCHINA: 

PETROCHINA NET INCOME DOWN 98% 

PETROCHINA PROFIT DOWN 70% 

PETROCHINA: THE LOWEST 

PETROCHINA: GROWTH 15% 

PETROCHINA FALLS 4.9%

 

 

 

Tags: CHINA, PETROCHINA, OIL, DEMAND, SUPPLY, PRICES,

Chronicle:

PETROCHINA NEED BALANCE
November, 22, 11:05:00

NIGERIA & CHEVRON PROJECT &1.7 BLN

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.

PETROCHINA NEED BALANCE
November, 22, 11:00:00

MAERSK-AKER-HALLIBURTON ALLIANCE

OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.

PETROCHINA NEED BALANCE
November, 20, 09:35:00

OIL PRICE: ABOVE $62 YET

REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $62.56 per barrel at 0439 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.59 a barrel, up 4 cents, or 0.1 percent, from their last settlement.

PETROCHINA NEED BALANCE
November, 20, 09:30:00

ROSNEFT'S WORLD RECORD: 15000 M

Rosneft as a member of Sakhalin-1 Consortium successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently is a world record. This is a supercomplex well with DDI (Directional drilling index) of 8.0 and 14,129 m stepout.

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