CNPC (00857) AH shares all rose more than 3%. As of press release, they were up 3.07% to HK$7.71, with a turnover of HK$823 million.
The Zhitong Finance App learned that CNPC (00857) AH shares all rose by more than 3%. As of press release, they had risen 3.07% to HK$7.71, with a turnover of HK$823 million.
According to the news, Bank of America Securities quoted CNPC management as saying that the profit of the natural gas business improved significantly in the fourth quarter of last year, including revenue of 2.4 billion yuan from increased gas sales, 3 billion yuan of revenue from imported natural gas costs, 7 billion yuan of revenue from rising average gas prices during the winter heating season, and liquidation profits of financial derivatives. The company continues to have confidence in natural gas sales momentum. Based on a 5% increase in self-produced natural gas to meet local demand, Russia's gas supply is expected to grow by 8 billion cubic meters this year and next, the deepening reform of local gas prices, and a 5% to 8% increase in domestic gas demand.
CITIC Securities said that since mid-April, the escalation of the Middle East conflict has further boosted the oil supply to 92 US dollars/barrel. If local geopolitical shocks intensify, oil prices are expected to fluctuate upward. Looking ahead to 2024Q2 and the second half of the year, the bank believes that the scale of production cuts is expected to continue, the peak demand season is approaching, and local geographical disturbances will still be frequent. The oil supply center will fluctuate at a high level of 90 US dollars/barrel, and keep a close eye on the direction of oil price fluctuations dominated by geography.