PetroChina Deep Dive

Stretching back to the 1950s, China has benefited from prolific natural resource deposits. Their ample oil reserves survived multiple administrations and governance systems to eventually land in PetroChina, China’s largest domestic producer of crude oil and natural gas .

Blessed by nature with easy to extract hydrocarbons, their lifting costs are around just ~$12 per BOE and they produce ~900mn barrels of crude oil annually. This has allowed them to pay a significant dividend, estimated around 9% for this year at the current price.

However, their ability to replenish reserves is waning and regulation of end product pricing remains an obstacle.

Check out this month’s deep dive for more on PetroChina, as well as a very in depth Oil & Gas industry primer!

You can find the following (and more) in this report:

  1. Background History.
  2. Industry.
  3. Exploration and Production.
  4. Natural Gas & Pipeline.
  5. Refining & Chemicals.
  6. Marketing.
  7. Oil Business.
  8. Valuation.
  9. Risks.
  10. Summary Model.
  11. Conclusion.

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