On Breakingviews – China’s majors fill up on gas at the right time, says cbeddor:
A gas station attendant pumps fuel into a customer's car at PetroChina's petrol station in Nantong, Jiangsu province, China March 28, 2018. Picture taken March 28, 2018. REUTERS/Stringer ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT.
PetroChina said on Thursday that it took a 24.9 billion yuan hit on its gas imports last year, 960 million yuan more than in 2017. China’s biggest oil major, which controls almost two-thirds of mid-stream gas infrastructure, has a mandate to ensure ample domestic supplies – even if that means selling at a loss into the price-regulated market at home.
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