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| HSI1 | 26,160.15 | +192.17 | 226.61B |
| HSCEI1 | 9,363.94 | +63.20 | 86.65B |
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2025-10-24 10:53:49 The EU has added Liaoyang Petrochemical, PETROCHINA (00857.HK)'s subsidiary, and Chinaoil Hong Kong, a subsidiary of PETROCHINA's parent company, to the sanctions list against Russia, according to a report from Goldman Sachs. As Liaoyang Petrochemical's capacity accounts for 4% of PETROCHINA's refining capacity, the sanctions may lead crude oil suppliers and shipping companies to cancel crude oil supply transactions, causing production disruptions. However, Goldman Sachs believes that PETROCHINA can shift to non-Western supply chains to procure crude oil and increase imports of Russian crude oil to alleviate some of the impact. Assuming PETROCHINA can mitigate production disruption impacts through adjusting crude oil procurement, oil prices will continue to be a major factor affecting the group. In Goldman Sachs' estimate, with other conditions unchanged, a USD10 change in Brent oil price per barrel will result in a corresponding 13% change in PETROCHINA's EBITDA. Goldman Sachs has given PETROCHINA a Buy rating with a target price of HKD8.6. ~ AAStocks Financial News Web Site: www.aastocks.com | |