I can't explain other than to say I follow 14 international energy stocks closely and only three, all Chinese, are down today: CEO, PTR and SNP. CEO is down the most, despite its(CNOOC) announcement of new o&g discoveries in the West China Sea.
Yanzhou Coal (YZC), however, is up more than US$2 or 4.5%.
There are a lot of pressures, up and down, on yearend stock prices for business-unrelated reasons. JMO
Regarding to CEO, the news also said that its renevue of 2004 will be lower than early expected and unit cost will be higher than expected. But in the long run, it will realize its goal. So it should not affect much in the long run too. Hopefully it would not affect other oil companies in short term too.