Analysts made several changes or updates on ratings and price targets for Chevron (NYSE: CVX), Petrochina (NYSE: PTR), Suntech Power (NYSE: STP), Gen-Probe Incorporated (NASDAQ: GPRO) and American States Water Company (NYSE: AWR) today.
Jefferies (NYSE:JEF) reiterated a “buy” rating on shares of Chevron (NYSE: CVX).
Jefferies initiated coverage on Petrochina (NYSE: PTR). They placed a “buy” rating on the company.
Ardour Capital cut their price target on Suntech Power (NYSE: STP) from $10.00 to $7.50. They have a “hold” rating on the company.
JPMorgan Chase & Co. (NYSE:JPM) downgraded Gen-Probe Incorporated (NASDAQ: GPRO) from an “overweight” rating to a “neutral” rating. They have a price target of $85.00 on the company.
Ladenburg Thalmann initiated coverage on American States Water Company (NYSE: AWR). They placed a “buy” rating and a price target of $38.00 on the company.
Showing posts with label PetroChina. Show all posts
Showing posts with label PetroChina. Show all posts
Thursday, May 26, 2011
Wednesday, September 1, 2010
PetroChina (NYSE:PTR) Building Tibetan Liquefied Natural Gas Project
PetroChina (NYSE:PTR), which is the subsidiary of China National Petroleum Corp, will be building a liquefied natural gas project in Tibet.
The capital city of Tibet, Lasa, will be the location of the project and destination of the gas.
Once that project is completed, expectations are the project will expand to other cities in Tibet.
The first step in the process will be to build a liquefied natural gas terminal, which will be able to receive the product, which will come from the Qunghai Province of China.
Next they're going to build a natural gas network throughout the city of Lasa, and finally, they'll put together a refueling network around the city.
Liquefied natural gas should start supplying Lasa by October 2011.
For those without much knowledge of India/China relations, this could be considered a threat by India, who has been getting nervous over the increased military presence of China in Tibet, and could be more of an effort to supply energy for them than the stated purpose of increasing the use of natural gas in the mountainous country.
The capital city of Tibet, Lasa, will be the location of the project and destination of the gas.
Once that project is completed, expectations are the project will expand to other cities in Tibet.
The first step in the process will be to build a liquefied natural gas terminal, which will be able to receive the product, which will come from the Qunghai Province of China.
Next they're going to build a natural gas network throughout the city of Lasa, and finally, they'll put together a refueling network around the city.
Liquefied natural gas should start supplying Lasa by October 2011.
For those without much knowledge of India/China relations, this could be considered a threat by India, who has been getting nervous over the increased military presence of China in Tibet, and could be more of an effort to supply energy for them than the stated purpose of increasing the use of natural gas in the mountainous country.
Thursday, June 10, 2010
Will China Rescue BP (NYSE:BP)?
There is growing interest in the possibility of a Chinese oil company coming to the rescue of BP (NYSE:BP), or at least taking them over, depending on how you view the situation.
Of course it's highly unlikely BP would what something like that to happen, although it's on the fringe of possibility depending on the outcomes of the liability they may face after things become clearer in that regard.
At this time estimates are they could be liable anywhere from $20 billion to $40 billion before it's all over.
One Chinese oil company name thrown around is PetroChina, which if they did acquire BP, would become a global oil giant themselves, although they're already moving toward that status.
This is all conjecture, but once liability is more clear, BP could become a very desirable and vulnerable target for a takeover, although they still remain fairly strong for now, in spite of the struggles they're going through.
Of course it's highly unlikely BP would what something like that to happen, although it's on the fringe of possibility depending on the outcomes of the liability they may face after things become clearer in that regard.
At this time estimates are they could be liable anywhere from $20 billion to $40 billion before it's all over.
One Chinese oil company name thrown around is PetroChina, which if they did acquire BP, would become a global oil giant themselves, although they're already moving toward that status.
This is all conjecture, but once liability is more clear, BP could become a very desirable and vulnerable target for a takeover, although they still remain fairly strong for now, in spite of the struggles they're going through.
Monday, March 29, 2010
PetroChina (NYSE:PTR) Spending $60 Billion for International Expansion
PetroChina Increasing Global Commodity Investments
PetroChina (NYSE:PTR) says it will spend a minimum of $60 billion over the next 10 years in acquiring international assets, as China's ongoing energy and fuel needs grow at a pace they're having a hard time keeping up with.
This isn't too hard to believe, as far as the $60 billion goes, as I think that's probably the low end of the estimate, considering China spend close to $7 billion in 2009 on acquiring reserves and refineries in a number of countries.
Still, even with the big numbers last year, before that PetroChina average from $2 billion to $3 billion for several years, so this is a big move for them as far as increasing their commitment to the sector.
In 2009 Chinese companies as a whole invested $32 billion in energy and mining-related companies, and it doesn't seem they're even close to being satisfied in those types of endeavors.
PetroChina (NYSE:PTR) says it will spend a minimum of $60 billion over the next 10 years in acquiring international assets, as China's ongoing energy and fuel needs grow at a pace they're having a hard time keeping up with.
This isn't too hard to believe, as far as the $60 billion goes, as I think that's probably the low end of the estimate, considering China spend close to $7 billion in 2009 on acquiring reserves and refineries in a number of countries.
Still, even with the big numbers last year, before that PetroChina average from $2 billion to $3 billion for several years, so this is a big move for them as far as increasing their commitment to the sector.
In 2009 Chinese companies as a whole invested $32 billion in energy and mining-related companies, and it doesn't seem they're even close to being satisfied in those types of endeavors.
Tuesday, March 23, 2010
BG Group (LSE:BG) $80 Billion Deal with China National Offshore Oil Corp
BG Group in Huge Natural Gas Deal with China
BG Group (LSE:BG) is about to sign a major deal worth from $50 billion to up to $80 billion with China National Offshore Oil Corp for a liquified natural gas agreement.
If prices are close to last years' prices, the deal would be close to the higher end of $80 billion.
This is why Australia and China have been working hard behind the scenes to patch up their relationships, as this follows a deal with PetroChina and Royal Dutch Shell for Arrow Energy, also based in Australia for $3.4 billion. That was for coal-seam gas.
BG Group in Huge Natural Gas Deal with China
BG Group (LSE:BG) is about to sign a major deal worth from $50 billion to up to $80 billion with China National Offshore Oil Corp for a liquified natural gas agreement.
If prices are close to last years' prices, the deal would be close to the higher end of $80 billion.
This is why Australia and China have been working hard behind the scenes to patch up their relationships, as this follows a deal with PetroChina and Royal Dutch Shell for Arrow Energy, also based in Australia for $3.4 billion. That was for coal-seam gas.
BG Group in Huge Natural Gas Deal with China
PetroChina (NYSE:PTR) Royal Dutch Shell (NYSE:RDS-B) Acquire Arrow Energy
PetroChina and Royal Dutch Shell Acquire Arrow Energy
After increasing their offer by 6 percent, PetroChina (NYSE:PTR) and Royal Dutch Shell (NYSE:RDS-B) agreed to acquire Arrow Energy for $3.1 billion.
This is the first entry by a Chinese company into the natural gas trapped in the coal of Queensland, Australia. Arrow owns the coal-seam gas resources reserves in the region.
The price is considered a premium of 35 percent over the original pre-announcement close.
Australian regulators will have to approve the deal, but there's no indication that will be a problem. Shareholders will also have to vote to approve the deal, which was recommended by the board of the company to accept.
After increasing their offer by 6 percent, PetroChina (NYSE:PTR) and Royal Dutch Shell (NYSE:RDS-B) agreed to acquire Arrow Energy for $3.1 billion.
This is the first entry by a Chinese company into the natural gas trapped in the coal of Queensland, Australia. Arrow owns the coal-seam gas resources reserves in the region.
The price is considered a premium of 35 percent over the original pre-announcement close.
Australian regulators will have to approve the deal, but there's no indication that will be a problem. Shareholders will also have to vote to approve the deal, which was recommended by the board of the company to accept.
Tuesday, March 16, 2010
MarK Mobius: China Growth is Sustainable
Mark Mobius on China Growth
Mark Mobius was talking at the Reuters Mining and Steel Summit on the future growth of China and whether he believed it was sustainable or not. The emerging market expert said while China will continue at high growth levels and it will be sustainable, it won't be able to continue at double-digit growth levels, but will probably continue on some time in higher single-digit growth.
This ensures raw material demand will continue to be high based on China alone, according to Mobius, and I would add it shows the long-term demand cycle we're in when taking into account all emerging nations, and to a lesser degree, developing nations as well, who will benefit from selling commodities.
Contrary to the idea China will be tightening up, Mobius looks at them continuing to to pursue raw materials no matter what they do with their currency. Taking into account Chinese concerns over economic conditions in the United States and the rest of the West, and you can see they know exports are going to take a long time to rebound, making their internal needs and domestic projects as important as ever. This doesn't mean there won't be decent exports, just that they'll take time to build up to pre-recession levels.
Some of the larger and safer emerging market investments Mobius mentioned as good plays were Compania de Minas Buenaventura SA (NYSE:BVN), Vale (NYSE:VALE) and PetroChina Company Limited (NYSE:PTR).
Mark Mobius on China Growth
Mark Mobius was talking at the Reuters Mining and Steel Summit on the future growth of China and whether he believed it was sustainable or not. The emerging market expert said while China will continue at high growth levels and it will be sustainable, it won't be able to continue at double-digit growth levels, but will probably continue on some time in higher single-digit growth.
This ensures raw material demand will continue to be high based on China alone, according to Mobius, and I would add it shows the long-term demand cycle we're in when taking into account all emerging nations, and to a lesser degree, developing nations as well, who will benefit from selling commodities.
Contrary to the idea China will be tightening up, Mobius looks at them continuing to to pursue raw materials no matter what they do with their currency. Taking into account Chinese concerns over economic conditions in the United States and the rest of the West, and you can see they know exports are going to take a long time to rebound, making their internal needs and domestic projects as important as ever. This doesn't mean there won't be decent exports, just that they'll take time to build up to pre-recession levels.
Some of the larger and safer emerging market investments Mobius mentioned as good plays were Compania de Minas Buenaventura SA (NYSE:BVN), Vale (NYSE:VALE) and PetroChina Company Limited (NYSE:PTR).
Mark Mobius on China Growth
Thursday, December 31, 2009
PetroChina Approved for Oil Sands Investment
PetroChina Canadian Oil Sands
PetroChina received the go ahead from Canada's Industry Minister Tony Clement to invest $1.7 billion into two Athabasca Oil Sands Corporation projects.
Clement stated concerning the deal: "I am satisfied that the investment is likely to be of net benefit to Canada." PetroChina will now own 60 percent of the Dover oil sands and Athabasca oil sands deposits.
Over the next three years PetroChina will pay out over $250 million for its part in developing the oil sands iniatives.
Estimated oil sands deposits at Dover and MacKay stand at about five million barrels.
Improved methods of extraction from oil sands, along with increasing oil prices, make the huge deposit of approximately 175 billion barrels of oil the largest oil reserves in the world outside of Saudi Arabia, the reputed No. 1 oil reserve country.
PetroChina Canadian Oil Sands
PetroChina received the go ahead from Canada's Industry Minister Tony Clement to invest $1.7 billion into two Athabasca Oil Sands Corporation projects.
Clement stated concerning the deal: "I am satisfied that the investment is likely to be of net benefit to Canada." PetroChina will now own 60 percent of the Dover oil sands and Athabasca oil sands deposits.
Over the next three years PetroChina will pay out over $250 million for its part in developing the oil sands iniatives.
Estimated oil sands deposits at Dover and MacKay stand at about five million barrels.
Improved methods of extraction from oil sands, along with increasing oil prices, make the huge deposit of approximately 175 billion barrels of oil the largest oil reserves in the world outside of Saudi Arabia, the reputed No. 1 oil reserve country.
PetroChina Canadian Oil Sands
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