报告中称，第三季油价下跌对中石油的经营溢利造成20亿元人民币的负面影响，但被税收开支节省、勘探费用减少，及非常规天然气增长补贴所抵销。JPMorgan believes that the company is providing strong outlook for natural gas demand and unit profitability for the fourth quarter of this year and next year.
According to Zhixun Finance APP, JPMorgan released a research report stating it maintains a 'shareholding' rating for PetroChina (00857) with the target price reduced from 10 Hong Kong dollars to 9 Hong Kong dollars.
The bank stated that it held a positive view on PetroChina's management conference call, believing that the company is providing a strong outlook for natural gas demand and unit profitability for the fourth quarter of this year and next year, while also actively improving its dividend policy.
The report mentioned that the third-quarter decline in oil prices caused a negative impact of 2 billion Chinese yuan on PetroChina's operating profit, which was offset by savings in tax expenses, reduced exploration costs, and subsidies for unconventional natural gas growth.
