PetroChina’s Shares Rise After Securing Supply Agreements By

© Reuters.

© Reuters. – PetroChina (HK:), the largest oil and gas producer in Asia and the second-largest oil refiner in China, saw its stock in Hong Kong rise 1.5% on Thursday, buoyed by a pair of crude supply agreements for 2019.

Shares in the Chinese oil major hit HK$6.06 by 2:05 AM ET (6:05 GMT).

On Wednesday, the company signed crude supply deals with Saudi Aramco and Kuwait Petroleum Corp. Quoting a person with knowledge of the terms of the deals, Reuters reported that supply levels in 2019 remain level from 2018. Actual terms were not disclosed.

On Oct. 30, PetroChina reported net profit of CNY21.05 billion ($3.02 billion) for the third quarter of the year, up 350% from a year earlier. The company’s net income for the first nine months of 2018 jumped 177% to CNY48.12 billion.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here