PetroChina Could Continue Positive Earnings -- Market Talk

Dow Jones05-03

0240 GMT - PetroChina's outlook remains positive after delivering a promising quarter, DBS Group Research analysts write in a note. First-quarter results were slightly ahead of expectations, and the upstream business's operating profit rose despite a slight decline in realized oil prices, thanks to higher output. The Chinese oil major is "amongst [the] best proxy for oil price, which is expected to stay elevated in 2Q," they add. PetroChina remains a leader in China's energy transition, and its growing renewables portfolio will likely account for one-third of total profit by 2030, they say. Shares edge 0.1% higher to HK$7.11. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

May 02, 2024 22:40 ET (02:40 GMT)

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PetroChina remains a leader in China's energy transition, and its growing renewables portfolio will likely account for one-third of total profit by 2030, they say. Shares edge 0.1% higher to HK$7.11. 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First-quarter results were slightly ahead of expectations, and the ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00857","symbol_name":"中国石油股份","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2432078994","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432078994","pubTimestamp":1714704000,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0240 GMT - PetroChina's outlook remains positive after delivering a promising quarter, DBS Group Research analysts write in a note. First-quarter results were slightly ahead of expectations, and the upstream business's operating profit rose despite a slight decline in realized oil prices, thanks to higher output. The Chinese oil major is \"amongst [the] best proxy for oil price, which is expected to stay elevated in 2Q,\" they add. PetroChina remains a leader in China's energy transition, and its growing renewables portfolio will likely account for one-third of total profit by 2030, they say. Shares edge 0.1% higher to HK$7.11. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"601857":"中国石油","00857":"中国石油股份"},"translate_title":"中石油可能继续积极盈利——市场传言","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601857":0.9,"00857":0.9},"content_text":"0240 GMT - PetroChina's outlook remains positive after delivering a promising quarter, DBS Group Research analysts write in a note. 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