PetroChina has signed a number of oil and gas cooperation agreements, involving pipeline transportation, natural gas purchase and sale, gas storage construction, natural gas chemical industry, natural gas power generation and other fields, are related to natural gas business. Analysts pointed out that PetroChina through international cooperation, and actively participate in natural gas upstream and downstream development.
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Sign a number of cooperation agreements
PetroChina signed a cooperation agreement covering the Memorandum of Understanding on Investment and Financing Cooperation from Natural Gas Supply, Transportation and Demand, including the Azerbaijan Natural Gas Chemical Project, and the Memorandum of Understanding on the cooperation of the Uzbek Gazley Gas Storage.
Zhuo record information natural gas industry analyst Feng Haicheng told the China Securities Journal reporter, PetroChina signed a series of agreements, both through the purchase and sale contracts and gas storage construction, to ease the domestic gas production and peak shaving capacity of the situation, to protect the energy supply At the same time, through the natural gas chemical industry, natural gas power generation projects such as construction, stimulate the natural gas market demand, promote the extension of the field of natural gas downstream.
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Industry insiders said that the oil overweight natural gas industry layout, is conducive to finding new growth points. According to earnings, 2016 oil net profit fell 78.88% year on year. As the oil upstream assets accounted for a larger, its fluctuations in oil prices is more obvious. In this context, PetroChina continues to overweight the gas business.
Natural gas plate performance is better
From the current situation, in the “three oil companies,” the business composition, the natural gas plate are relatively good performance.
Since 2015, international crude oil prices continue to remain low. Relatively speaking, PetroChina, CNOOC upstream oil and gas business accounted for a high proportion of the impact is relatively greater.
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According to the annual report data, 2016 in the oil, CNOOC net profit fell more than Qi Cheng; and Sinopec upstream business accounted for a small, relying on the downstream oil refining plate, refined oil sales and chemical sector, net profit rose 44%.
From the natural gas sector, CNOOC’s sales fell 26%, PetroChina and Sinopec sales were up 16% and 3%. Affected by a variety of factors, “three barrels of oil” natural gas sales fell more than 10% overall.
Nevertheless, the performance of the natural gas sector is relatively better. Feng Haicheng said that natural gas is a strong policy to support the clean energy, the development of natural gas business can partially avoid the risk of oil prices caused by the downturn.
In 2017, PetroChina will focus on the construction of Shaanxi-Beijing four-line, the Sino-Russian natural gas pipeline and natural gas regional and sales terminals and other projects; Sinopec will invest Fuling shale gas field project (capacity 10 billion Cubic meter / year), Tianjin liquefied natural gas project (a design removal scale 3 million tons / year); CNOOC will continue to develop the natural gas market, strengthen the natural gas field exploration and development activities.
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