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PetroChina Co Ltd Class H

00857: XHKG (HKG)

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Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HKD 3.10	Hwccz	Sqjnxbqz

PetroChina's Payout Ratio Underpinned by Strong Cash Flow and Balance Sheet

Mar 26, 2024

Business Strategy and Outlook

PetroChina is the listed arm of one of China's two integrated oil majors and the largest oil producer. With revenue and assets more heavily weighted toward the upstream activities, PetroChina is more sensitive to swings in the oil price than its peer, Sinopec. In addition, the firm’s downstream operations lag Sinopec, which has better scale and efficiency in the sector. However, PetroChina will benefit more in a rising oil price environment.

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