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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


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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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