PetroChina Fair Value Estimate Under Review for Oil Price Forecast Changes
Ahead of the release of PetroChina’s interim results on Aug. 25, and ahead of adjusting our oil price forecast, we are placing PetroChina under review. Slightly stronger second-quarter oil prices lead us to anticipate a better exploration and production segment performance that should carry over to the second half of 2016. We also see the potential for the company to benefit from lower spot LNG prices that should buffer its gas and pipelines segment. With the likelihood of us raising our oil pri...
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