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Ask why you are so sad, there is no full warehouse of Petrochina Company Limited!
RecentlyPetroChinaThe trend was quite strong, rising nearly 5% on September 15, and the total market capitalization stood at 1 trillion yuan, reaching 1.0359 trillion yuan.
PetroChina has fallen in only three of the 18 trading days since august 23, and rose in the remaining 15 days, with a cumulative increase of 36 per cent and a market capitalization increase of more than 270 billion yuan.
"scum man becomes a male god" and "iron tree blossoms" are the most frequently used words used by shareholders to comment on the performance of PetroChina's stock price in recent days. Why is it suddenly so strong? Some analysts have pointed out that the rise in oil and natural gas prices is one of the factors that stimulate the strength of PetroChina's share price. Another important reason is that the oil giant is showing signs of "old trees and new branches" and is making every effort to transform into a hot new energy racetrack. The company has upgraded its new energy business and oil and gas business to the first major business segment. The goal is that natural gas and new energy business will account for 1/3 of the company's total business around 2035.
The stock price staged a "scumbag man turned into a male god".
PetroChina's shares rose nearly 6 per cent on Monday, rose nearly 9 per cent on Tuesday before closing up 3.82 per cent, and rose nearly 7 per cent on Wednesday to close at 4.9 per cent, up more than 15 per cent in three days. After a year and eight months, the total market capitalization finally stood at 1 trillion yuan, reaching 1.0359 trillion yuan.
PetroChina has fallen in only three of the 18 trading days since august 23, and rose in the remaining 15 days, with a cumulative increase of 36 per cent and a market capitalization increase of more than 270 billion yuan. Since the beginning of this year, the company's share price has risen by 46.8%, and its market capitalization has increased by more than 320 billion yuan.
To the surprise of many, the company, which once kept investors locked in for more than 10 years, and its market capitalization fell from 7 trillion yuan to less than 700 billion yuan, ushered in a counterattack in 2021. In recent days, when investors evaluate this enterprise, what they say most is: "ask why you are so sad, there is no full warehouse of Petrochina Company Limited."
In terms of fundamentals, PetroChina has done very well this year, thanks to rising oil and gas prices. According to the China Daily data, in the first half of the year, the company achieved operating income of 1.19658 trillion yuan, an increase of 28.8 percent over the same period last year; its net profit was 53.037 billion yuan, turning losses into profits (a loss of 29.983 billion yuan in the same period last year), and its operating performance reached the best level in the same period of seven years.
The increase in performance is mainly related to the sharp rebound in international crude oil and natural gas prices. In the first half of the year, the average sales price of the company's crude oil products increased by 50.3% compared with the same period last year, and the average sales price of natural gas products increased The financial report shows that among the eight major categories of products sold by PetroChina in the first half of this year, except for lubricating oils, the prices of other products have increased by varying degrees.
Specifically, natural gas and pipelines accounted for the largest proportion of profits. In the first half of the year, the operating profit of this business sector reached 36.888 billion yuan, an increase of 22.516 billion yuan over the same period last year. This was followed by the oil exploration and production sector, with an operating profit of 30.87 billion yuan, an increase of 20.519 billion yuan over the same period last year. The oil refining and chemical business and sales sectors all changed from loss to profit, of which the operating profit of the oil refining and chemical business was 22.185 billion yuan, an increase of 32.725 billion yuan over the loss of 105.4 in the same period last year. The current revenue of the sales sector is 962.448 billion yuan, and the operating profit is 6.64 billion yuan, an increase of 19.532 billion yuan over the same period last year.
There are "old trees and new branches" in the business.
In the context of carbon neutralization, in addition to the traditional main oil and gas industry, PetroChina's professional companies have made a comprehensive profit, and the layout and construction of new energy and new materials business has been accelerated.
It is worth noting that in 2021, PetroChina first upgraded its new energy business and oil and gas business to the largest business segment, demonstrating its determination to transform energy. During the 14th five-year Plan period, PetroChina will focus on the deployment of geothermal, wind and photovoltaic power generation, the integrated development of natural gas power generation and new energy, as well as the development of associated resources.
Dai Houliang, chairman of PetroChina, said at a news conference on mid-term results in 2021 that he would vigorously develop oil and gas and new energy businesses in the second half of the year, accounting for 1/3 of the company's total business around 2035. In the next step, a new energy research institute will be set up to comprehensively research and develop a new generation of new energy technologies and focus on developing complete sets of CCUS technologies, so as to give full play to the advantages of technology and talents.
In addition, PetroChina has launched a hydrogen purification construction project to lay out the hydrogenation business. At present, two hydrogenation stations have been completed and put into operation, and six hydrogenation stations are under construction. In addition, it is planned to look for more opportunities to carry out the construction of hydrogenation stations in the future. In February this year, PetroChina built the first hydrogenation station for the Winter Olympic Games in Chongli District, Zhangjiakou City. In August, PetroChina's first hydrogenation station in Beijing was officially put into operation.
The company's distributed photovoltaic power generation project has also made new progress. As of June 10, the Honggang Photovoltaic Power Station in Jilin Oilfield, PetroChina's first large-scale distributed photovoltaic power station, had generated a total of 66 million kilowatt-hours, generating more than 2000 million yuan for the enterprise. The first distributed photovoltaic project of PetroChina Heilongjiang sales Company has been put into operation. Recently, the photovoltaic power generation project of PetroChina Zhongning Ancient City liquefied Natural Gas filling Station in Zhongning Ancient City of Ningxia Autonomous region has been successfully connected to the grid. It is reported that this is China's first BIPV photovoltaic power generation project on the roof of a liquefied natural gas filling station (LNG).
The market value of oil and gas sector increases by more than 440 billion.
Since late April last year, international oil prices have risen all the way. As of brokerage Chinese reporters, WTI crude oil futures in New York traded at 71.04 US dollars per barrel, up 1.73 per cent, while Brent's main crude oil futures closed at 74.81 US dollars per barrel, up 1.64 per cent. In April last year, the WTI May crude oil futures contract briefly fell below $16 a barrel.
Recently, oil and gas stocks, represented by PetroChina, have continued to strengthen, benefiting from rising oil prices. September fifteenthIntercontinental oil and gas、Trendy energyTrading limitShanghai Sinopec涨8%，Donghua EnergyIt rose 6.76%, and PetroChina rose 4.9%.
Most oil and gas stocks have started this round of rally since August 23, and the K-line trend chart is highly consistent. Statistics show that between August 23 and September 15Blue Flame HoldingsThe increase is as high as 97%, and the increase of trendy energy is close to 90%.Guanghui Energy、Shouhua gas, Intercontinental Oil and Gas, Shanghai Petrochemical, PetroChina,Petrochemical oil suitThe increases were 77.78%, 69.44%, 60.33%, 58.39%, 36.14% and 35.5%, respectively. During this period, the oil and gas index rose 36.79%, and the market value of the entire oil and gas sector increased by 440 billion yuan.
Since the beginning of the year, Guanghui Energy has risen by 199.65%, leading oil and gas stocks up; previously, intercontinental oil and gas also rose by 116.76%, trendy Energy, Blue Flame Holdings,International industry、Huajin co., Ltd., Shanghai Petrochemical,ST Zhongtian, Donghua Energy, PetroChina and petrochemical oil service increased by 88.31%, 63.86%, 56.94%, 56.69%, 52.52%, 49.23%, 47.66%, 46.81% and 38.27%, respectively.
In terms of natural gas, due to environmental policies and climate change and other factors, international natural gas futures prices have risen sharply since June 2020. As of brokerage Chinese reporters, NYMEX natural gas futures were at $5.569 per million British heat, up 5.87%, a new seven-and-a-half-year high and up 267% from last June's low. On the supply side, recently, China's liquid plants have entered a period of centralized maintenance, at the same time, most enterprises are affected by peak power cuts, and the operating rate of liquid plants has declined. On the demand side, in terms of apparent consumption, the domestic apparent natural gas consumption CAGR from 2011 to 2020 is as high as 11%. China's natural gas demand has increased significantly, and the market is expected to improve for a long time.
How can I get to the city in the future?
Everbright SecuritiesPoint outFor a long time, China has been highly dependent on imported energy from abroad. Among them, the degree of dependence on crude oil and natural gas imports has been increasing since 2017, reaching nearly 74% of crude oil imports and about 47% of natural gas imports by the end of 2020. Taking into account the demand for energy security in China, on the one hand, the development of new energy has become a general trend, on the other hand, in the short and medium term, relatively clean traditional fossil energy natural gas will become an important alternative energy. It is expected that the consumption proportion of natural gas in primary energy in China will continue to increase in the future. In addition, China is highly dependent on crude oil imports, and crude oil supply will also become an important strategic goal of energy security in China. The superimposed warming of oil prices will promote a substantial increase in capital expenditure of crude oil enterprises, and the oil service industry is expected to usher in a boom.
Sino-Thai SecuritiesExpressIn the context of this year's "off-season is not light" market, it has reflected the strategy of gas enterprises to adjust production plans to protect inventory, and the "three barrels of oil" actively prepare ballast stones to ensure market supply, so the situation of high shock may be maintained. however, if there is an extremely cold situation in the winter of 2020, prices may rise rapidly under a larger increase in demand. In the long run, it is optimistic that in the context of the dual-carbon policy, natural gas acts as the best excessive energy, maintaining a high growth rate and continuing to open up room for growth.
HaitongThink thatThere was a rapid rise in oil prices in the first half of the year, including the short-term boost of unexpected events, which took time to digest the increase. For the whole year of 2021, it is believed that the follow-up will be dominated by shocks, and the factors that need to be paid attention to include: 1) the adjustment of OPEC's rational production plan and its specific implementation; 2) the marginal changes in global liquidity and inflation in various countries. 3) the oil and gas production costs of the major production enterprises and the recovery of shale oil production in the United States; 4) the epidemic prevention work in various countries and the substantial recovery of economic demand. At present, it is still recommended to focus on the investment opportunities of private refining and chemical industry.
It is important to note, however, that while the long-term outlook is positive, the oil and gas sector has risen too much in the short term and needs to pay attention to the risk of a pullback.
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