Gelonghui, March 7 | Huatai Securities published a report covering CNPC for the first time, giving it a “buy” rating, with a target price of HK$7.6. According to the report, CNPC, as an integrated leader in the domestic oil and gas sector, has implemented a strategy of stabilizing oil and gas production, steadily increasing natural gas production, and gradually optimizing extraction costs; expanding the sources of imported gas, reducing import costs, and the demand side adapts to the general trend of market-based reforms to promote natural gas prices; and the petroleum processing sector promotes technical reform and upgrading of traditional refineries, and refined oil products benefit from pattern optimization. The bank estimates that the average price of Brandt crude oil will be 82 and 80 US dollars per barrel this year and next, respectively. The company's overall profit will weaken due to fluctuations in oil prices, and the performance center will rise steadily. The company has strengthened market value management assessments. The net profit for 2023 to 2025 is estimated to be 162.8 billion/176.9 billion/188.2 billion yuan, respectively.