Petroc C + CNPC info

Ich werde abwarten bis die Korrektur bei 1,30 - 1,50 einpendelt, die Aktie ist mir ein wenig zu schnell nach oben gegangen (raus bei 1,70).

Im Cart sieht man aus der Vergangen, wie tief solche Spitzen wieder runterfallen.
Warren Buffet ist auch ein alter Hase in diesem Geschäft, er kennt die Gründe warum er seinen Posten reduziert hat.

 

Ich weiss dass ein Ausstieg bei einem Wert von 1,70 € sehr verlockend ist, dennoch bin ich überzeugt dass diese Aktie noch weiter in die Höhe geht(31-12-07 über 2 €).
Das ist der größte chinesische Ölkonzern und mit Tausenden Tankstellen eines der umsatzstärksten Unternehmen von China. In den USA wird die Zusammenarbeit von PeCh mit dem Sudan sehr kritisch kommentiert. Es wird sehr viel Druck auf Buffet gemacht und dieser verkauft seine Anteile. Aber wieso verkauft er nicht das komplette Packet?
Ich halte meine Aktien und denke positiv.
Geld ist nicht alles, aber es hat einen riesen Vorsprung vor allem, was danach kommt.  

Buffett: Petrochina Stake Sale "100%" Based On Valuation10-18-07 5:05 PM EDT | E-mail Article | Print ArticleNEW YORK -(Dow Jones)- Berkshire Hathaway Inc. (BRKA) Chief Executive Warren Buffett Thursday said his decision to sell his stake of Petrochina Co. (0857.HK) was based "100%" on price considerations, not on concerns over the company's ties to Sudan.


In a wide-ranging interview with the Fox Business Network, Buffett also said he believed he sold the stake too early, based on the stock's rise in value since the sale.

"I sold a little too soon," he said.

Berkshire Hathaway Inc.'s sales of PetroChina stock, which were first reported in July, had activist investors speculating that Buffett may not want to be involved with a company with ties to the regime accused of using its oil wealth to wage genocide against the people in the western Darfur region, and some groups have suggested that PetroChina has supported the Sudanese government.

Separately, Buffett said that he isn't yet interested in buying into depressed home builders, hit by this year's credit market turmoil.

He said he'd buy only "if they are selling below what I think they're worth," adding, "they're not there yet. I'm waiting until they're underpriced."

Buffett said the housing slump has hit businesses in which Berkshire Hathaway has invested, including insulation, bricks and carpeting, though this poor performance had been offset by strength in insurance.

Buffett also said a New York Times report saying he had been in talks over the possible acquisition in a stake of troubled Bear Stearns Cos. (BSC) was incorrect.

-Mark Long, Dow Jones Newswires; (201) 938-5154; mark.long@dowjones.com


 (END) Dow Jones Newswires
 10-18-071705ET
 Copyright (c) 2007 Dow Jones & Company, Inc.


 

PetroChina May Raise $8.9 Billion in Shanghai IPO

PetroChina Co., the nation's biggest oil producer, may raise as much as 66.8 billion yuan ($8.9 billion) selling shares in Shanghai to expand refineries and output at oilfields, the company said in a stock exchange filing.

The company will sell shares at the price range of 15 yuan to 16.7 yuan each, according to the statement to the Hong Kong stock exchange. PetroChina said in a Oct. 21 share sale document that it will sell as many as 4 billion yuan-denominated shares in its Shanghai listing.

Surging energy demand has pushed PetroChina's share price up more than 15-fold since its Hong Kong listing in 2000, making the Beijing-based company the world's second largest by market value. The Shanghai sale gives investors in mainland China, home to the best-performing equity market this year, their first opportunity to buy the stock directly.

PetroChina slipped 0.21 percent in Hong Kong trading to HK$19.40 before the announcement. The stock has gained 76 percent this year, more than the 47 percent increase in the benchmark Hang Seng Index. The stock is set to start trading in Shanghai Nov. 5, PetroChina said Oct. 21.

If priced at the top end, the sale would surpass the 66.6 billion yuan generated by China Shenhua Energy Co. earlier this month and making it the world's largest stock offer this year.

The oil producer said Sept. 20 it plans to use 37.77 billion yuan of the funds raised in the Shanghai share sale for refinery and oilfield projects. The company will spend 17.5 billion yuan upgrading the Dushanzi refinery in the northwestern region of Xinjiang, it said.

Expansion Plans

PetroChina will spend 12.8 billion yuan to boost production capacity at its Changqing and Daqing fields, it said in its listing prospectus. The Beijing-based explorer and refiner will use 1.5 billion yuan to develop part of the Jidong Nanpu field, China's biggest oil discovery in almost 50 years, and 6 billion yuan to expand an ethylene plant at Daqing.

Oil and gas output increased by 5.6 percent in the third quarter at PetroChina, outpacing growth at Royal Dutch Shell Plc and Chevron Corp.

Total spending may jump 24 percent to $24.5 billion this year, PetroChina said in March. That is higher than Exxon Mobil Corp. and Europe's two largest oil companies, Shell and BP Plc.

Billionaire investor Warren Buffett's Berkshire Hathaway Inc. sold its entire stake in PetroChina, Buffett said in an interview on Fox Business Network Oct. 18. Berkshire was PetroChina's biggest shareholder after state-owned China National Petroleum Corp., holding more than 2.3 billion PetroChina shares as of the end of last year.

Berkshire bought its stake for less than HK$1.70 a share in April 2003. Activists have urged Buffett and other investors to divest PetroChina holdings over links to Sudan, whose government the U.S. accuses of supporting genocide. The decision to sell was ``100 percent'' based on share price, Buffett said.

UBS AG's China venture, UBS Securities Co., Citic Securities Co. and China International Capital Corp. are arranging the share sale.  

857 PETROCHINA 19.02 -0.38 -1.96 3,517,666 182,649  

PetroChina (857) (buy) yesterday set the price range for its 4B A shares offering at 15 yuan to 16.7 yuan a share in order to raise up to 66.8B yuan. The top end of the price range represents an 11% discount to its H share which closed at $19.4 yesterday. It is expected its A share will hit above 30 yuan on its debut on November 5, its market value will top US$770B. PetroChina earned 81.8B yuan in the 1H, up 1.4%. It is expected to post a full year profit of 155.3B yuan for this year, up 14%  

PetroChina sees Nanpu field 2012 oil output at 10 mln tons

PetroChina Co Ltd (HK 0857), the country's largest oil and gas producer, said it expects output at its Nanpu oil field in Bohai Bay to hit 10 mln tons in 2012.

Jia Dong, chief accountant of PetroChina's exploration and production unit, said about 1.5 bln yuan raised from the company's Shanghai IPO will be invested in Nanpu to increase its capacity and recovery rate.

Jia made the comments at an online roadshow.

Nanpu has oil and gas reserves of 1.18 bln tons of oil equivalent, according to estimates certified by the Ministry of Land and Resources.

PetroChina said in May that the Nanpu discovery would be one of the biggest in China in 30 years.  

GS Starts PetroChina A-Shr At Sell; Ups Targets

Goldman Sachs starts PetroChina A-share (601857.SH) at Sell due to stock's rich valuation; pegs target at CNY22.50, based on 22.5X 2008 PER (lower than Goldman's A-share market multiple 30X), but above DCF-based valuation CNY20.65.

House also ups PetroChina H-share (0857.HK) target to HK$17.00 from HK$12.30, ups ADR (PTR) target to US$218 from US$158; keeps both at Neutral call.

Upgrades mainly based on bullish view on oil prices: ups normalized WTI oil price to US$60/bbl from US$50/bbl, ups Singapore complex refining margin benchmark to US$6/bbl from US$5/bbl. Also ups PetroChina 2008-11 margin assumption to US$5-7/bbl (vs previous estimate -US$0.5/bbl to US$2.7/bbl).  

857 PETROCHINA 15.14 1 6.20 4,604,832 298,371  

HK 857 PETROCHINA 14.56 -0.4 -2.67% 6,530,380 448,076

PetroChina reports oil find in Qaidam Basin - report

etroChina Co Ltd (HK 0857), the country's top oil and gas producer, has reported an oil find in the Qaidam Basin in northwestern China, the official Shanghai Securities News reported.

The Qie-6 Well has a daily oil flow of 386,000 cubic meters at a depth of 2,134 meters, the paper said.

Earlier, state media reported that PetroChina plans to invest 240 mln yuan in exploration technology in a bid to boost oil and gas output from the Qaidam Basin.

The project aims to boost annual crude oil output to over 2 mln tons and natural gas output of 7 bln cubic meters in the coming years.

PetroChina's Qinghai oil field, the main field in the Qaidam Basin,

is expected to have natural gas output of 3.77 bln cubic meters this year, up from 2.53 bln cu m a year earlier,

parent China National Petroleum Corp has said  

PetroChina to Raise Oil Processing 12% to Meet Demand PetroChina Co., the nation's biggest oil producer, plans to increase crude processing volume by 12 percent this year to help ease domestic fuel shortages.

PetroChina plans to process 120 million metric tons (about 2.4 million barrels a day) of oil this year, Vice President Liu Hongbin told reporters after a conference in Beijing today. The company processed 2.15 million barrels a day of oil last year. The latest projection is also higher than a March forecast for refining volume to reach 2.25 million barrels a day in 2007.

China, the world's largest energy user after the U.S., has had fuel shortages since the August summer consumption peak. The Chinese government unexpectedly increased fuel prices by as much as 10 percent effective Nov. 1 in what the National Development and Reform Commission called an ``urgent step'' to boost market supplies.

China controls fuel prices to limit their impact on inflation. Domestic refineries have been losing money from fuel sales since July after crude oil costs soared. Benchmark crude prices reached a record $98.62 a barrel last week.

China National Petroleum Corp. and China Petrochemical Corp., the nation's two biggest refiners, will delay maintenance of oil-processing plants to boost fuel output and ease shortages, the commission, China's top economic planner, said Nov. 6.

The companies will increase diesel output and ``strictly'' limit fuel exports to ensure domestic supply, the commission said at the time.

China National is the parent of Hong Kong-listed PetroChina and China Petrochemical, as Sinopec Group is known, is the parent of China Petroleum & Chemical Corp.

857 PETROCHINA 15.44 0.3 1.91 2,081,724 134,134  

By Richard Komaiko
http://www.atimes.com/atimes/China_Business/IK09Cb01.html
PetroChina's November 5 listing on the Shanghai Stock Exchange drew attention from all around the world. This event instigated a storm of punditry hailing the rise of the largest corporation the world has ever seen. However, such pronouncements may be shortsighted. All of these events leave the concerned observer contemplating three questions: What is the true value of PetroChina, what are its prospects, and what does this mean for the business climate of Asia?

Roughly 86% of the firm is owned by the Chinese government. Almost 12% of the firm is traded on the Hong Kong and New York stock exchanges. Monday's A-share initial public offering made .the remaining 2.2% of the firm available to mainland Chinese investors, raising US$8.9 billion for PetroChina.
....
In fact, it may be the case that the Shanghai price was driven up precisely because the majority of the company remained unlisted, thus limiting available share supply relative to demand. Therefore, one cannot say with any degree of certainty that the Shanghai price can be used to determine the value of the entire company.The value of the 86% that remains in government hands is a matter of speculation. But whether those shares are valued at the Shanghai price, the Hong Kong price, or anywhere in between, it is clear that PetroChina is a monumentally valuable and important company. On this basis, the firm's conditions and prospects merit further analysis.

It is worth remembering that in mid-October, billionaire investment guru Warren Buffett expressed his opinion that PetroChina was overpriced. At the time, the Hong Kong shares were trading between US$2.18 and US$2.57. This provides some frame of reference for the appropriateness of the Shanghai price. While it is possible that Buffett's analysis of PetroChina was flawed, it seems far more likely that the Shanghai price is flawed. This conclusion is based not only on Buffett's nonpareil track record as a value investor, but also on the fundamentals of PetroChina's business.

PetroChina's technology lags far behind international giants such as ExxonMobil and British Petroleum. Catching up will require a substantial commitment of resources. Last year, PetroChina produced two thirds as much oil as its largest rival, Exxon. PetroChina's revenue was one fourth as great as Exxon's, and profit was less than one half.

In Shanghai, PetroChina is trading at 50 times earnings. In Hong Kong it is trading at 20 times earnings. By comparison, Exxon is trading at 13 times earnings in New York. Obviously the way that investors on the mainland valuate companies is at odds with international practice. Perhaps this can be attributed to greater optimism on the mainland about the prospects of domestic champions.

This brings us to the greatest question about PetroChina: optimism for prospects.The National Development and Reform Commission (NDRC), China's top economic planner and price regulator, maintains fixed prices for oil products such as gasoline and other fuels. It hadn't increased prices of oil products over the past 17 months until the beginning of this month.Only from the beginning of this month did the NDRC allow prices to go up by 10%, with average retail prices of gasoline and diesel oil lifted to 5,980 yuan (US$805) and 5,520 yuan per tonne from 5,480 and 5020 yuan respectively.

Given these prices, most refineries can barely break even when the price of crude on the international market is at $70 per barrel. At the present price of US$97, refineries are hemorrhaging money. Businesses like China Petroleum and Chemical Corporation, China's other oil giant whose principle activity is refining, can only stay afloat with massive government bailouts.

Integrated oil businesses, such as PetroChina, are involved in production as well as refining. The profit from the production business helps to offset the losses from the refining business. In a more liberal climate, PetroChina might maximize profits by reorienting its production business to direct supplies to the international market where the end price is substantially higher. However, the government does not permit this. As a result, the government-imposed price caps have a significant impact on the bottom line.

All of this raises the question: What is the meaning of PetroChina stock? Traditionally, owning stock means that one owns the right to future profit flows. Given that PetroChina cannot freely choose to whom it sells its product or at what price, the firm does not appear to be in control of the principal determinants of profit.

If the government decides to raise the price ceiling, PetroChina will be more profitable. If it decides not to, then inflation will ensure that PetroChina is less profitable. What, then, is the meaning of a share of stock? Does it mean that one owns the right to future government beneficence? Does it mean that one owns a share of the government itself? Does it mean a vote of confidence in the government? If the latter is the true meaning of PetroChina stock, then the government is right to feel tremendously confident.
....
Given the concerns of stability and inflation, at present it seems unlikely that the NDRC will raise the price ceiling in any significant way prior to the 2008 Summer Olympic Games. It remains to be determined whether the NDRC will raise the price after the Olympics, and whether the political and social climate will tolerate increases sufficient to keep pace with the international market.  

PetroChina enters major stock indices

PetroChina Co Ltd, China's largest oil refiner, was today added to the Shanghai Stock Exchange series indices and the China Securities Index series indices, including the CSI300 index.

As of last Friday's close, PetroChina shares had shrunken almost 25 percent to 38.32 yuan from an opening price of 48.6 yuan on November 5, when Asia's most profitable company was listed in the Shanghai bourse.

Last Friday, PetroChina shares had a total market value of 6.14 trillion yuan, accounting for 23.2 percent of the total market value of all shares listed in Shanghai. PetroChina has left the Industrial and Commercial Bank of China (ICBC) far behind. Previously the heaviest weight in Shanghai, ICBC shares on Friday accounted for only 7.93 percent of the total market value of the Shanghai exchange.

Calculated on the closing price of the Shanghai Composite Index on November 16, or 5,316 points, PetroChina took up 1,097 points. In other words, if PetroChina's share price changes by 1 percent, the benchmark Shanghai index will move 10.97 points.

Calculated on the closing price of the CSI300 index on Friday of 5,007 points, PetroChina weighted 111 points. That means if PetroChina share price changes by 1 percent, the CSI300 index will move 1.11 points.

Based on PetroChina's closing price of 38.82 yuan last Friday, a price change of 0.01 yuan would cause the Shanghai Composite Index to lose 0.31 points. Supposing PetroChina had bee  

PetroChina Q4 crude run seen at 32.25 mln tons, up 2.13 mln yr-on-yr

PetroChina Co Ltd, the country's top oil and gas producer, is expected to process 32.25 mln tons of crude oil in the fourth quarter to December, a rise of 2.13 mln tons from the corresponding period last year, its parent firm China National Petroleum Corp said.

The move is part of the company's efforts to ease domestic fuel shortages and ensure the market stability of oil products.

PetroChina (nyse: PTR - news - people ) also called on it units to buy fuel from independent oil firms and curb fuel exports, the company said.

Meanwhile, Sinopec, China's top refiner, also pledged to increase fuel output and is planning a record crude run at major refineries to ease the ongoing supply crunch, following a recent call by Premier Wen Jiabao to ensure market supplies.

Sinopec said it plans to process over 42 mln tons of crude oil in the fourth quarter. Its December output should reach 14.5 mln tons, 200,000 tons more than originally planne  

China A-shares end morning higher as PetroChina rebounds

China A-shares finished the morning higher after a rebound by heavyweight PetroChina, which helped lift sentiment, dealers said.

They noted that the Shanghai Composite Index found support near its half-year moving average.

The benchmark index ended the morning up 71.70 points or 1.47 pct at 4,940.31.

'Sentiment was boosted by the performance of PetroChina. The market is likely to bottom out after losing about 20 pct from the high in mid-October,' said Wu Dazhong, an analyst at Guotai Junan Securities.

PetroChina Co Ltd (SHA 601857), the heaviest weighted stock, ended the morning up 0.20 yuan or 0.66 pct at 30.64, off a high of 31.07. It dropped more than 3 pct in the previous session.

'After the company fell significantly from the high of 48 yuan, its price is now in a reasonable range,' Wu said  

PetroChina +0.8%, Shenhua +1.7%; HSI Entrants Mon
PetroChina (0857.HK) +0.8% at HK$15.55, China Shenhua (1088.HK) +1.7% at HK$48.90 with two stocks showing good momentum ahead of joining HSI on Dec.10. ICEA expects 2 H-shares to weigh about 4.9% and 2.5% respectively on blue-chip index and could become index movers with their heavy weightings. Adds Tracker Fund (2800.HK) alone would have to purchase HK$1.6 billion and HK$800 million worth of PetroChina, Shenhua, respectively. "We believe the HSI reshuffle will keep lending strength to the two counters." PetroChina and Shenhua may test their key levels of HK$20 and HK$50, respectively in run-up to their official status as blue chips Monday.  

PetroChina +2.1%; Outpaces Sinopec, CNOOC

PetroChina (0857.HK) +2.1% at HK$15.92,
outpacing Sinopec (0386.HK) which +0.8%,

CNOOC (0883.HK) +0.3%, most likely due to rebalancing-related buying with PetroChina formally becoming blue chip Monday;

latter 2 already HSI members.
Anyway, based on fundamentals, UBS prefers CNOOC due to upstream exposure; for Sinopec, says it's becoming increasingly clear Chinese government views higher oil prices as structural problem, therefore more aggressive domestic oil and gas price hikes likely, which will benefit Sinopec.

For PetroChina, recommends Underweight stock due to short-term selling pressures after A-share listing.  

PetroChina +1.6%; UOB Raises Target To HK$18.50

PetroChina (0857.HK) +1.6% at HK$15.56, in line with HSI's 1.4% gain. UOB KayHian lifts target price to HK$18.50 from HK$15.50, keeps on Buy call. Notes stock has corrected 25% vs November peak of HK$20 along with H-shares' pullback, expects market sentiment will improve with China's economic policies for 2008 turning clear; expects China to "promote resource price reform more actively in the next twelve months," which will benefit PetroChina's natural gas, refining businesses. PetroChina 4th most heavily traded with HK$1.096 billion; Sinopec (0386.HK) +3.2% at HK$12.38, CNOOC (0883.HK) +0.9% at HK$13.68. Sinopec has been outperforming recently on crude fall, heightening expectations of fuel price hike.  

PetroChina H-shares a 'buy', earnings forecasts raised - CLSA


CLSA recommended a ""buy"" on PetroChina Co Ltd's Hong Kong-listed shares with a target price of 20.0 hkd after lifting earnings forecasts for the mainland oil giant.

CLSA revised upward its 2007, 2008 and 2009 net profit estimates for PetroChina by 7.1 pct, 18.2 pct and 13.5 pct, respectively.

""We are lifting PetroChina's 2007-2009 profit estimates to reflect firm oil and gas prices ahead,"" CLSA said in a research note.

It did not give the actual figures.

It said an oil price forecast upgrade is simply ""irresistible"" in light of OPEC's failure to increase supply meaningfully.

CLSA also noted that its new analysis on PetroChina's proven reserve figures reassures it of extended production growth for the company.

With a 20 pct retreat from its peak recently on fears of oil price decline next year, the stock is likely to be a major target of QDII money, CLSA said, referring to China's qualified domestic institutional investor program.

The QDII program allows qualified mainland institutions to invest overseas.

PetroChina's H-share is currently trading at 13 times its 2008 forecast earnings and offering potential positive earnings surprises, CLSA noted, adding that the stock is ""our 2008 top pick in the energy sector.""

PetroChina shares today closed up 0.24 hkd or 1.78 pct at 13.74 hkd.  

Hallo Leute,

es ist wohl wieder an der Zeit hier etwas zu diskutieren, oder?

 

 

Gewinnanstieg bei PetroChina bis zu 10,6% erwartet


Hongkong 14.03.08 (www.emfis.com)
Am Dienstag kommender Woche, wird der größte chinesische Ölkonzern, die Petrochina Co Ltd, seine Zahlen für das abgelaufene Jahr 2007 präsentieren.
Analysten rechnen mit einem Anstieg des Nettogewinnes zwischen 2,1 bis 10,6 Prozent bzw. 145 bis 157 Mrd. Yuan. In 2006 betrug der Gewinn 142 Mrd. Yuan (20 Mrd. USD).

Die Prognosen der Investmenthäuser im Detail:

Credit Suisse: Gewinn + 6,3 % auf 51 Mrd. Yuan
Merrill Lynch: Gewinn + 2,5 % auf 146 Mrd. Yuan
UBS: Gewinn + 2,1 % auf 145 Mrd. Yuan
Macquarie: Gewinn + 10,6 % auf 157 Mrd. Yuan

Die Aktie von Petrochina beendetet den heutigen Handelstag mit einem Minus von 0,4 Prozent auf 10,08 HKD.


Quelle: EMFIS.COM, Autor: (gh)  

857 PETROCHINA 10.68 0.56 5.53 3,944,924 376,529

- Staat unterstützt mit Subventionen
- hoher Ölpreis
- "man geht von steigenden Kursen, spez im Energiesektor aus"  

 

PetroChina 1Q Net Profit Falls 31% On Year On Refining Losses  PetroChina Co. (PTR), the largest listed Chinese oil firm by capacity, said Monday its first-quarter net profit fell 31% from a year earlier on heavy refining losses.

 

Net profit for the three months ended March 31 totaled CNY28.89 billion, down from CNY42.14 billion in the year-earlier period. The result was slightly below the average CNY29.96 billion forecast of five analysts polled earlier by Dow Jones Newswires. Revenue rose 42% to CNY259.05 billion from CNY182.60 billion.

 

Unlike China Petroleum & Chemical Corp. (SNP), PetroChina has never received a subsidy from Beijing to compensate it for low domestic fuel prices. PetroChina's statement didn't say how much money its refineries lost during the first quarter. It earlier said its refineries have been posting losses since the second half of last year.