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6 Pages

PetroChina - the big winner from China's gas price reforms


PetroChina - the big winner from China's gas price reforms

Report summary

On 28 June 2013, China's National Development and Reform Commission (NDRC) announced a new two-tier gas pricing system for all onshore and imported gas, and an increase in city-gate prices for all non-residential sectors.  City gate prices for contracted volumes remain fixed and regulated, but have been increased by 15% (to an average US$8.90/mcf).  However, for incremental volumes (above 2012 contracted levels) the reform has indexed the price to LPG and fuel oil across the entire country,...

What's included?

This report includes 2 file(s)

  • PetroChina - the big winner from China's gas price reforms PDF - 505.26 KB 6 Pages, 3 Tables, 3 Figures
  • PetroChina the big winner from Chinas gas price reforms.xls XLS - 173.00 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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  • Executive Summary
    • NDRC reforms domestic gas pricing
    • Impact of reforms
    • Increased wellhead prices
    • Enhanced asset value
    • Sulige field is the biggest winner
    • Everyone's a winner
    • 2016 might be an ambitious target
  • Appendix
    • Methodology

In this report there are 6 tables or charts, including:

  • Executive Summary
    • Wellhead price by asset (nominal terms)
    • Changes in value*, by region/basin
    • Changes in value*, by field
    • Changes in total upstream value in China, by company
    • Pre-reform price vs reform price
    • NPV increment in different roll-out scenarios
  • Appendix
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