Key Developments: PetroChina Co Ltd (PTR)
122.10USD
23 May 2013
$-2.04 (-1.64%)
$124.14
$121.39
$123.10
$120.76
129,916
99,644
$146.68
$116.35
Latest Key Developments (Source: Significant Developments)
PetroChina Co Ltd Withdraws AUD185 Million Bid For Westside Corp Ltd-DJ
Dow Jones reported that Westside Corp said that PetroChina Co Ltd. has withdrawn a AUD185.1 million (USD184.7 million) takeover offer for the Company. PetroChina made the indicative offer of 52 cents per Westside share back in November. WestSide said in a filing Tuesday that the Chinese company told it that it decided to pull its offer because the general situation in Australia has changed so much. No further explanation was given for the decision, which comes as a number of giant gas-export projects in Queensland experience cost blowouts due to the strength of the Australian dollar and labor shortages. The Company Said discussions with other parties potentially interested in investing in the Company, either through a gas-sales agreement, joint venture or full takeover, were continuing. Full Article
PetroChina Co Ltd Announces Appointment of Chairman
PetroChina Co Ltd announced the appointment of Mr. Zhou Jiping as Chairman of the Board, effective April 25, 2013. Full Article
PetroChina Co Ltd Still To Decide On Australia's Browse LNG-Reuters
Reuters reported that PetroChina PetroChina Co Ltd has not decided whether it will invest in the $40 billion Browse liquefied natural gas (LNG) project in western Australia. Full Article
PetroChina Co Ltd Announces Change of Accounting Auditor
PetroChina Co Ltd announced the change of its accounting auditor for fiscal year 2013 from Price Waterhouse Coopers to KPMG. Full Article
PetroChina Co Ltd Recommends Final Dividend
PetroChina Co Ltd announced that its Board recommends a final dividend of RMB0.13106 per share (inclusive of applicable tax) for 2012, which is based on 45% of the net profit of the Group for the twelve months ended December 31, 2012 after deducting the interim dividend for 2012 paid on October 24, 2012. The proposed final dividend is subject to shareholders’ review and approval at the forthcoming annual general meeting to be held on May 23, 2013. The final dividend will be paid to shareholders whose names appear on the register of members of the Company at the close of trading on June 5, 2013. Full Article
PetroChina Co Ltd Issues FY 2013 First Tranche of Corporate Bonds
PetroChina Co Ltd announced that it has issued the first tranche of corporate bonds for fiscal year 2013, worth RMB 20 billion, each with par value and an issue price of RMB 100, from March 15, 2013 to March 19, 2013. RMB 15 billion worth of bonds are with a term of five years and a fixed coupon rate of 4.47%, while RMB 5 billion part are with a term of 10 years and a fixed coupon rate of 4.88%. The interest will be paid on March 15. China National Petroleum Corporation will provide guarantee for the bonds. CITIC Securities Co., Ltd served as the main underwriter. Full Article
PetroChina Co Ltd Announces Resignation of Chairman
PetroChina Co Ltd announced the resignation of Mr. Jiang Jiemin as Chairman of the Board, effective March 18, 2013. The Company's Vice Chairman of the Board, Mr. Zhou Jiping, will serve as Acting Chairman of the Board. Full Article
PetroChina Co Ltd Announces Change Of Chief Financial Officer
PetroChina Co Ltd announced that due to transfer of Mr. Zhou Mingchun to take up the appointments of the Chief Accountant and a member of the party leadership group of China State Shipbuilding Corporation, Mr. Zhou has tendered his resignation and ceased to hold the position of the Chief Financial Officer of the Company with effect from March 14, 2013. Mr. Zhou has confirmed that he has no disagreement with the Board and is not aware of any other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. The Board is pleased to announce that Mr. Yu Yibo has been appointed the Chief Financial Officer of the Company with effect from March 14, 2013. Full Article
PetroChina Co Ltd to Issue FY 2013 First Tranche of Corporate Bonds
PetroChina Co Ltd announced that it will issue the first tranche of corporate bonds for fiscal year 2013, worth RMB 20 billion, each with par value and an issue price of RMB 100, from March 15, 2013 to March 19, 2013. RMB 15 billion worth of bonds are with a term of five years and a fixed coupon rate of ranging from 4.25% to 4.65%, while RMB 5 billion part are with a term of 10 years and a fixed coupon rate ranging from 4.70% to 5.10%. The interest will be paid on March 15. China National Petroleum Corporation will provide guarantee for the bonds. CITIC Securities Co., Ltd will serve as the main underwriter. Full Article
ConocoPhillips Announces Three Agreements with PetroChina Co Ltd
ConocoPhillips announced that it has entered into a set of agreements with PetroChina Co Ltd (PetroChina) whereby PetroChina will acquire an interest in two Western Australia exploration assets and establish a Joint Study Agreement (JSA) for unconventional resource development in Sichuan Basin in China. Under these agreements, which still require government and partner approvals, PetroChina will acquire a working interest in the Poseidon offshore discovery in the Browse Basin, and in the Goldwyer Shale in the onshore Canning Basin. In addition, ConocoPhillips will enter into a Joint Study Agreement to identify unconventional resource reserves in the Neijiang-Dazu Block in China's Sichuan Basin. Under the terms of the agreement with ConocoPhillips, PetroChina will acquire working interest in the two Australian projects; specifically 20% of Poseidon in the Browse Basin and 29% of Goldwyer in the Canning Basin. Under the JSA, ConocoPhillips and PetroChina will study the potential for unconventional resource development in the approximately 500,000 acre Neijiang-Dazu Shale Block in the Sichuan Basin. The joint study will be an important step in evaluating the potential for unconventional resource exploration in the area. If technically and commercially viable, the companies will advance development under a production sharing contract, which would be agreed upon during the study period Full Article
India's Essar Oil to sign $1 billion debt-for-fuel deal with China
MUMBAI/NEW DELHI - India's Essar Oil Ltd will sign a $1 billion loan deal with China on Tuesday that sources with knowledge of the matter said would be backed by supply of refined products to top state oil producer PetroChina .
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