PetroChina Co Ltd (857:HK) Stock Quote & Analysis. PTR Stock Price Today - PetroChina Co. Ltd. ADS Stock Quote. PetroChina. PetroChina Company Limited (SimplifiedChinese: 中国石油天然气股份有限公司), (TraditionalChinese: 中國石油天然氣股份有限公司) (SEHK: 0857, SSE: 601857, NYSE: PTR) is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing.[2] It is China's biggest oil producer.[3] Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007,[3] and subsequently entered trading on the Shanghai index.
History[edit] PetroChina was established as a joint stock company with limited liabilities under the Company Law of the People's Republic of China (the PRC) on November 5, 1999, as part of the restructuring of CNPC. In the restructuring, CNPC injected into PetroChina most of the assets and liabilities of CNPC relating to its exploration and production, refining and marketing, chemicals and natural gas businesses.
Environmental record[edit] PetroChina. PetroChina The Biggest Firm - Business News, Business. Traders in Shanghai, where the stock is listed, marked PetroChina up by 3 per cent yesterday morning, giving it a market value of $336bn.
The gains were enough to propel the company to the top ranking in the list of the world's most valuable companies. The margin is thin – a mere $100m – but PetroChina is now ahead of Exxon Mobil of the US in those rankings and, on present trends, it may not take long to widen the lead. Chinese shares are up by 43 per cent this year, while the US market has slipped by 1.8 per cent. Moreover, the long-term outlook for Chinese energy companies is one of growth – certainly much more so than in the US and elsewhere, giving global investors every reason to drive PetroChina higher.
"If you have to buy an energy stock, you want to buy the dominant one in China," said Gordon Kwan, head of energy research at Mirae Asset Securities, a Hong Kong-based investment company.