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Express News | Shenzhen Gas: Signed a “Medium- to Long-Term Natural Gas Purchase and Sale Contract” with China National Petroleum Corporation Natural Gas Sales Branch
Major Bank Ratings | Bank of China International: Raising CNPC's Target Price to HK$7.06 to Reiterate “Buy” Rating
Glonghui, March 29 | Bank of China International released a report saying that CNPC's profit last year increased 8% year-on-year to 161.1 billion yuan, 4% higher than the bank's forecast. Despite a sharp drop in oil prices, the company achieved growth thanks to strong performance in marketing and gas marketing operations. The bank expects CNPC's profit to grow 17% year-on-year this year after excluding impairment, reduced other taxes, and a slight increase in downstream business profits. At the same time, the profit forecast for this year and next year was raised by 14-15%. The bank reaffirmed its “buy” rating for CNPC H shares and raised the target price to HK$7.06.
CNPC (601857): Performance is in line with expectations, and the company's operating efficiency continues to improve
Guide to this report: The company's annual performance is in line with expectations. The company's operations continue to improve, crude oil processing volume increases slightly, refining and refining margins improve, and natural gas optimization and import gas resource pools continue to optimize resource allocation. The company's dividend ratio increased. Key investment points: maintain growth
Express News | CNPC CEO Huang Yongzhang: Ensuring the development of traditional oil and gas energy while actively building a “second curve”
Express News | CNPC Chairman Dai Houliang Meets Ren Zhengfei
Three barrels of oil are collectively raised
Glonghui, March 29 | CNPC rose more than 4%, CNOOC rose nearly 3%, and Sinopec rose more than 2%.
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