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20 Pages

CNPC corporate - reported results analysis


CNPC corporate - reported results analysis

Report summary

PetroChina's Q3 profits fell 77% year-on-year as the upstream segment reported a US$230 million loss. Upstream operational performance remained weak with quarterly oil and gas production down 4% year-on-year and oil output in China down 7% compared to Q3 2015. But PetroChina could now be past the worst of the downturn. Production levels stabilised versus Q2 and cost cutting helped reduce financial gearing from 25% to 23% over the quarter.

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Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Reported Results Analysis report provides rapid response analysis on company quarterly results and strategy presentations. Use it to gain the upper hand with Wood Mackenzie's opinion on the latest corporate developments.

Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.

Wood Mackenzie provides an independent evaluation and expert opinion on the operational performance, strategy and future of the world's top oil and gas companies. Our unique, objective analysis helps you understand, validate, compare and challenge market and corporate views so you can assess strategic opportunities.

  • Q3 2016
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other Business
    • Financial Performance
  • Q2 2016
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
  • Q1 2016
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
    • Exploration
  • Q4 2015
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
  • Q3 2015
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other Business
    • M&A/Business Development
  • Q2 2015
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
  • Q1 2015
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
  • Q4 2014
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
  • Q3 2014
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
  • Q2 2014
    • Overview
    • Strategy / Investment
    • Operational Performance
    • Other Business
    • Financial Performance
    • M&A / Business Development
  • Q1 2014
    • Overview
    • Strategy / Investment
    • Operational Performance
    • Other Business
    • Financial Performance
    • M&A / Business Development
  • Q4 2013
    • Strategy/Investment
    • Operational Performance
    • Other Business
    • Financial Performance
    • M&A and Business Development
  • Q3 2013
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
  • Q2 2013
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
  • Q1 2013
    • Overview
    • Strategy/Investment
    • Operational performance
    • Other business
    • Financial performance
    • M&A/business development
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