Insight
PetroChina - the big winner from China's gas price reforms
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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,...
Table of contents
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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
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Appendix
- Methodology
Tables and charts
This report includes 6 images and tables including:
- 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
What's included
This report contains:
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