Latest news with #PetroChinaInternational
Reuters
9 hours ago
- Business
- Reuters
PetroChina eyes North American LNG volumes to reduce risk, says exec
KUALA LUMPUR, June 17 (Reuters) - PetroChina International, the trading arm of the Chinese oil major ( opens new tab, says it is interested in North American liquefied natural gas supplies as it seeks to reduce trading risk by seeking flexibility in supply deals, said a company executive on Tuesday. "If I look at our portfolio today, I think we're slightly overweight on duration. I think we signed too many, very long term, take-or-pay SPAs (sales and purchase agreements)," said Zhang Yaoyu, assistant chief executive and global head of LNG. He added that Asia and China as a whole need more flexibility in their LNG term deals, and that is something that PetroChina International actively tries to "derisk upon." "We firmly believe the diversification process has significantly improved the resiliency of the portfolio, and that's something that we have been working really hard on." Zhang also said that the company's portfolio is slightly overweight on inflexible term supply volumes, and it would be interested in taking on some North American positions. LNG buyers and traders may seek term contracts without destination restrictions so they can resell cargoes when demand is low. Many supply deals from U.S. sellers do not have destination restrictions.
Reuters
06-03-2025
- Business
- Reuters
PetroChina in preliminary agreement with Germany's Mabanaft on expanding fuel sales to Europe
SINGAPORE, March 6 (Reuters) - PetroChina International's London unit signed a preliminary agreement with German energy company Mabanaft to expand sales of Chinese refined fuel products to Europe, the Chinese state oil and gas trader said on Thursday. The companies aimed to expand cooperation in the northwest European markets leveraging on PetroChina's fuel supplies and Mabanaft's end-user outlets, PetroChina International, or PCI, said on its official WeChat platform. The cooperation covers diesel, jet fuel, bio-aviation fuel and logistics. The companies already worked successfully on marketing aviation fuel in the United Kingdom, PetroChina said. PCI is the trading arm of China's largest oil and gas giant PetroChina ( opens new tab.
