PTR - PetroChina Company Limited

NYSE - NYSE Delayed Price. Currency in USD
33.30
-1.44 (-4.15%)
At close: 4:00PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close34.74
Open33.71
Bid33.14 x 1000
Ask33.22 x 800
Day's Range33.09 - 33.71
52 Week Range27.74 - 57.50
Volume152,461
Avg. Volume197,617
Market Cap106.3B
Beta (5Y Monthly)1.03
PE Ratio (TTM)7.57
EPS (TTM)4.40
Earnings DateN/A
Forward Dividend & Yield2.33 (6.99%)
Ex-Dividend DateSep 13, 2019
1y Target Est41.89
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • China's top energy firms to grow gas output despite spending cuts
    Reuters

    China's top energy firms to grow gas output despite spending cuts

    China's top energy producers will grow their natural gas output this year by twice as much as in the previous oil rout even as they slash spending due to collapsing oil prices, company officials and analysts said. The world's top energy consumer is forecast to expand its natural gas production by 5% or more in 2020 despite plans for deep spending cuts which will likely curb local oil production, they said. China's state-owned energy companies are joining others worldwide in slashing expenditure after this year's 56% drop in oil prices as a global pandemic ravaged economic activity.

  • PetroChina (PTR) Incurs Q1 Loss on Downstream Weakness
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    PetroChina (PTR) Incurs Q1 Loss on Downstream Weakness

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  • China's Oil Dream Dims as State Giants Cut Capex by $19 Billion
    Bloomberg

    China's Oil Dream Dims as State Giants Cut Capex by $19 Billion

    (Bloomberg) -- Despite marching orders from China’s top leader Xi Jinping to maximize oil and gas production, the energy sector is bending to the reality of the pandemic-fueled market collapse.The nation’s three biggest state producers will slash their spending plans this year by a combined $19 billion, with PetroChina Co.’s 32% chop leading the way, the fattest among global majors.The cuts to capital expenditures, announced Wednesday along with first-quarter results, are among the drastic steps companies are taking to weather the crash in demand and prices amid the coronavirus fight. They also come one year after China’s state firms boosted spending to satisfy calls by President Xi to reverse the decline in oil output that raised the nation’s import dependency.“Under the current low oil price environment, the company has adjusted its operating strategy promptly and implemented more prudent investment decision-making to ensure its long-term sustainable development,” Cnooc Ltd., the country’s largest offshore producer, said in a statement.PetroChina’s shares in Shanghai on Thursday rose as much as 1.8% before paring gains to close up 1.4%. Sinopec Corp. climbed 0.5%. Their Hong Kong-listed stocks, as well as Cnooc’s, were not traded as the market is shut for a holiday.China’s drillers are particularly sensitive to lower prices because their fields are older and require more work to sustain production, according to Rystad Energy AS. The consultancy estimates the country needs oil at $41 a barrel to break even, compared with $13 for Saudi Arabia and $11 for Iraq. Brent crude, the global benchmark, was hovering above $24 a barrel.Spending CutsPetroChina plans to lower capex this year to 200 billion yuan ($28 billion), from 295 billion yuan approved earlier this year, the company said on a call with analysts, according to a research note from Sanford C. Bernstein & Co. Meanwhile, Sinopec will cut 20%-25% to 108 billion-115 billion yuan, Bernstein said.Neither company published the figures in their exchange filings. Sinopec declined to comment, while media representatives for PetroChina didn’t respond to a request for comment.Cnooc said in its filing that it’s targeting capital expenditure of 75 billion-85 billion yuan this year. That’s down about 11% from a previous forecast of 85 billion-95 billion yuan. It also reduced its production target to 505 million-515 million barrels of oil equivalent for the year, from a previous range of 520 million-530 million.Cnooc’s cuts will fall more heavily on international projects, but it will still reduce spending and output within China, according to the company’s earnings presentation.Specific targets for Cnooc’s cuts include Canadian oil sands and North American shale, Chief Financial Officer Xie Weizhi said on a conference call. The company will also review the staff count at its oil sands operations, Xie said. It runs the Long Lake facility in Alberta, which produces 72,000 barrels of bitumen a day, part of its 2012 purchase of Nexen Inc.PetroChina aims to maintain stable oil production and increase gas output by 5% this year, even as it sets a 30% cost-cut target for every one of its business divisions, Citigroup Inc. said in a note, citing officials on the analyst call. Management bonuses will be halved.China became the world’s largest oil importer in 2017 and top gas buyer the next year. The growing dependence on energy imports and the start of a trade dispute with the U.S. provoked President Xi in August 2018 to urge the country’s energy Goliaths to boost domestic output.During the price crash of 2016, PetroChina, the country’s biggest oil company, started shutting fields it described as having “no hope” of being profitable. Production plummeted then, from a peak of 4.3 million barrels a day in 2015, when it was the world’s fifth-biggest producer, to 3.8 million barrels in 2018, when it fell to No. 8.The cuts announced Wednesday are the first significant reductions by China’s state oil industry this year. They follow similar reductions made by global majors, according to data compiled by Bloomberg Intelligence, that include the following:Highlights of the first-quarter results of China’s three majors were:PetroChina and Sinopec reported net losses as global crude prices collapsed and refining margins crashed due to severe oversupply and plummeting demand during the coronavirus pandemic. Both companies also cited losses on the value of their inventories in storage.Cnooc’s revenue fell as a drop in realized oil prices overwhelmed a 9.5% increase in net production from the previous year. The company didn’t report a profit figure.(Updates with closing shares in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • PetroChina Filed Annual Report on Form 20-F
    PR Newswire

    PetroChina Filed Annual Report on Form 20-F

    PetroChina Company Limited ("PetroChina", SEHK stock code 0857; NYSE symbol PTR; SSE stock code 601857) announced today that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 with the United States Securities and Exchange Commission (the "SEC"), which includes its audited financial statements.

  • Is PetroChina Company (PTR) a Worthy Stock to Pick Now?
    Zacks

    Is PetroChina Company (PTR) a Worthy Stock to Pick Now?

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  • China stockpiles crude as prices collapse
    MarketWatch

    China stockpiles crude as prices collapse

    China, the world’s biggest energy consumer, is taking advantage of a plunge in global oil prices due to the coronavirus outbreak to build up its stockpiles of crude.

  • Reuters

    China's Sinopec in talks to buy stake in Hin Leong's Singapore terminal - sources

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  • Oil & Gas Stock Roundup: Operators Clamp Down on Capex to Combat Price Slump
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  • PetroChina (PTR) 2019 Earnings Down, Warns of Coronavirus Impact
    Zacks

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  • Even China’s Big Oil Is Cutting Back
    Bloomberg

    Even China’s Big Oil Is Cutting Back

    (Bloomberg Opinion) -- Under the watchful eye of Beijing’s energy hawks, China’s oil and gas majors have splurged for more than a decade, first on deals abroad and then drilling at home. Yet with crude prices at less than half where they were at the start of the year and demand battered by a coronavirus epidemic, they’re preparing to cut back.Cnooc Ltd. signaled Wednesday it might reduce its 2020 capital expenditure budget, which was set at as much as $13 billion, the highest since 2014. PetroChina Ltd., the country’s largest oil producer with a market value of $117 billion, suggested Thursday that it would do the same. Given the delicate politics involved, it’s a welcome hint of rational frugality.Energy security has always been a top concern for China’s leadership. Overseas deals peaked at $28 billion in 2012, the year Cnooc bid for Canada’s Nexen. Local production growth has been less exuberant, and China has been importing ever more. As trade tensions with Washington rose in 2018, President Xi Jinping urged the country’s state-owned titans to drill. That set off a frenzy from deepwater fields in the South China Sea to shale gas in Sichuan, where China Petroleum & Chemical Corp., known as Sinopec, has led. Performing national service is fine when oil is at $60 a barrel, even if the improvements are unimpressive compared to the capital spent. It’s a different matter when West Texas Intermediate is just coming off an 18-year low of less than $20. That’s a price at which no one can make money — not even Cnooc, with an all-in production cost of less than $30 per barrel of oil equivalent. Cnooc’s adventures in U.S. onshore and Canadian oil sands look terrible; its buccaneering domestic ventures are little better.Overseas, oil majors from Chevron Corp. to Saudi Aramco are cutting spending to preserve capital. Dividends are precarious. Logic dictates that China’s producers, even with healthier balance sheets, will follow the same pattern. The question is whether they can put financial logic ahead of political necessity. So far, the message is cautious: Cnooc executives pointed out that 2020 spending targets were drawn up when oil was at $65, so adjustments would be made. It gave no specifics. PetroChina, meanwhile, didn’t disclose precise targets for the year. That’s no accident, given a volatile market. After a string of personnel changes, there are new bosses across the industry. Political priorities haven’t been set in stone, given the delay in the annual National People’s Congress meeting. Still, the official message has been clear: Life is returning to normal after a devastating shutdown. Announcing a drastic spending cut, or anything that might hint at job losses or a weak economy, simply isn’t on the cards. PetroChina employed 476,000 at the end of 2018.That doesn’t mean that there won’t be mild cuts followed by steeper ones later in the year, a pattern seen before.How steep? Unlike during the last price crunch, in 2014 and 2015, the forward curve suggests prices will remain low, with little prospect for a quick solution to the Russia-Saudi spat that has worsened a global supply glut. Demand, meanwhile, is in the doldrums. China’s economy, and therefore its own appetite for oil and gas, is recovering only slowly, and the rest of the world is ailing as more lockdowns, factory closures and travel restrictions are imposed to limit the spread of the coronavirus. Analysts at UBS Group AG forecast Cnooc’s capex could come down 25% over the next two years, a cut that could be far deeper if oil averages closer to $30 this year. Overall, they project Chinese state-owned oil producers could cut spending by over a third, dragging production down 8% to 9%. Exploration budgets may be trimmed, though domestic production — where job preservation remains key — will mostly be spared. That leaves refining and other downstream activities, plus projects abroad, to bear the brunt. Low energy prices aren’t all bad for China, which imports more than 70% of the crude it consumes. Even liberalization of the domestic gas market becomes easier when prices are low enough for consumers to cope with change, Michal Meidan of the Oxford Institute for Energy Studies points out. Cheaper oil could eventually stimulate demand. For now, a little less drilling all round. This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Dozens of big Chinese companies tiptoe toward Tuesday’s stock-market open at all-time lows
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  • 7 Drowning Energy Stocks to Avoid for Now
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    Energy stocks are getting hammered along with the rest of the market, but for a slightly different reason.OPEC met with Russia last weekend, hoping to formalize an agreement to cut crude oil protection and raise prices. As the coronavirus from China spreads, oil prices keep falling, and the outbreak is certain to hurt the global economy.Saudi Arabia had already agreed to drop production to manage reduced demand and keep prices stable.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut Russia was having none of it. Not only did it reject the production cuts but said it would pump more to make up for OPEC's reduced supply. Apparently heated words were exchanged by the Russian oil minister and the next in line to the Saudi throne, Mohammad bin Salman.Saudi Arabia then moved to start an all-out price war.Oil prices fell, and then Covid-19 hit the U.S. Major economic activity became restricted to slow its spread. And oil prices dropped even more, as the market fell.These energy stocks are all F-rated in my Portfolio Grader tool that I use to find Growth Investor plays. Avoid these seven companies like Covid-19. Energy Stocks to Sell: Exxon Mobil (XOM)Source: Jonathan Weiss / Shutterstock.com Exxon Mobil (NYSE:XOM) is one of the world's largest integrated oil companies. Usually that's a good thing, since in troubled times it can cut back on say, exploration and production, and continue to focus on downstream marketing and retail sales.But in a situation like this, there is no sector of the business that is doing well. And it's too big to cut back across the board in any meaningful way quickly enough. That's the trouble XOM stock is in now.It's exposed at every level and its global exposure makes it worse, not better. There is no place to turn.XOM stock is off 47% year-to-date. And crude and natural gas prices continue to plummet. The upside is, it has a sizable 8.3% dividend that's pretty safe. But there could be more than that in downside left. BP (BP)Source: TK Kurikawa / Shutterstock.com BP (NYSE:BP) is off 42% in the past month. Remember this is one of the oil giants and has a $90 billion market capitalization. This is not a small company where its stock price rises and falls like the sun.BP, like most of the other integrated oil majors, is in trouble because there's nowhere to turn in this kind of market. And now the global economy is looking shaky.And the fact is, if everyone is avoiding travel, shopping and public school, that directly and indirectly kills its business.Granted the stock is providing a 11.6% dividend now. But this is far too soon to jump in to get that. There's more downside left and that bottom hasn't been found yet. Meanwhile, other stocks have much better prospects due to revolutionary technology. ConocoPhillips (COP)Source: JHVEPhoto / Shutterstock.com ConocoPhillips (NYSE:COP) is a major global exploration and production (E&P) company with other integrated operations. It has a good share of natural gas in its portfolio as well.But this is a very demand-based end of the business, and one of the most volatile. When energy prices were steady, it was ideal for COP since it could produce at a stable margin and create efficiencies to maximize those margins.Also, the U.S. economy was expanding, so it could sell into the market and deliver good numbers every quarter.Now, all that has changed. With decreasing demand, its access to and ability to supply energy products is not helping move the needle.The stock is off 56% in the past year, and 52% in the past month. The downside momentum is still very strong. Don't be tempted by its 6% dividend. Occidental Petroleum (OXY)Source: Pavel Kapysh / Shutterstock.com Occidental Petroleum (NYSE:OXY) is another global E&P player. It also has some midstream and downstream operations, but its business is pulling energy out of the ground.And that's not a great business right now. As a matter of fact, it's a terrible business right now.The stock is off 82% in the past year and 70% in the past month. And you can be sure, it won't be long until its massive 26.8% dividend gets cut. I'm all for bargain hunting if a company is actually a good buy, but don't bottom fish this thing right now; it's still a falling knife.Carl Icahn announced this week that he is looking to pick up a 10% share of the company here. That may sound encouraging, but unless you have a very long time frame and as much capital to be wrong as Icahn does, your best bet is to avoid this one for a while. PetroChina (PTR)Source: IgorGolovniov / Shutterstock.com PetroChina (NYSE:PTR) is one of Asia's largest energy companies, but it hardly comes close to its global peers.It's one of two companies that supplies most of China with its energy needs and has created a fast-growing company that is building its global reputation by creating partnerships with larger majors.Yet while its long-term future is bright, given the support of the Chinese government, its short-term fate is a little less certain. First the U.S.-China trade war, and now Covid-19. That's a big one-two punch.The stock is off 50% in the past year and it has just announced that it's going to suspend shipments of liquified natural gas (LNG) imports for at least the next quarter. That was a deal it had with XOM and others. That's not a good sign of the demand in China. Devon Energy (DVN)Source: Jeff Whyte / Shutterstock.com Devon Energy (NYSE:DVN) is a decent-sized North American E&P company, with a $2.9 billion market cap.While most energy companies are struggling here, this is a good example of how the upstream sector is being impacted. It's usually the sector that's most leveraged to supply and demand issues with oil and natural gas production. (The select few energy stocks that make my Growth Investor list right now are midstream and downstream companies).DVN stock is off 67% in the past month and 74% in the past 12 months. This is a difficult trend and it's not a place where you should walk in thinking the worst is over.It's possible there may be an overreaction to the potential for a global recession, but it's not worth betting on right now.This is a risky sector that shouldn't be a risky investment, given all the oil and natural gas in the North American shale deposits where DVN works. Steer clear for now. Cimarex Energy (XEC)Source: Pavel Kapysh / Shutterstock.com Cimarex Energy (NYSE:XEC) is another E&P that's half the size (by market cap) of DVN. Yet its problems are just as big.XEC operates in the Southwest shale regions, including the big daddy of them all, the Permian Basin. But it doesn't matter how much oil and natural gas you can produce if there isn't a market that wants it.Shutting down wells or running them at half capacity is not what E&P companies want to do. But that is what has to be done. Some analysts are betting that this situation is overblown and are stepping in, but they're in the very small minority.The stock is off 62% in the past month and 78% in the past 12 months. This is another one to avoid in one of the hardest-hit sectors in the energy patch.The bottom line, though, is that energy companies are in a terrible position right now. Besides $30 per barrel oil, you have to consider that in the United States the stocks are basically not sold in 33 blue states; they're divesting due to environmental, social and corporate governance (ESG) investing philosophies.Instead, the companies I'm particularly keen on now are facilitating the spread of ultra-fast internet worldwide -- anywhere there's a cell tower. The 5G Buildout Is an Incredible Opportunity for Investors Right NowWithin two years, most cell phones will be 5G enabled and be able to wirelessly handle television streaming. With 5G, we'll have cable modem speeds on any device; no need to plug in. That's a big deal for rural areas … the very same areas that are also key to President Donald Trump's reelection. So, by pushing 5G over the goal line, Trump will deliver a big win for his base -- and strike a blow against Chinese rivals like Huawei Technologies.But, in the big picture, 5G is about much more than trade wars and faster downloads. Because 5G is 100 times faster than 4G, it'll allow your internet devices to work in real time. That advancement is a game changer for tech companies.With the 5G infrastructure market set to grow at an annual rate of 67% over the next 10 years, the entire market will go from $780 million to nearly $48 billion. This buildout is where I see opportunity with 5G stocks now.Cable companies can do their best to fight back with fiber optics … but they can't compete with the convenience of a smartphone, once it's got ultra-fast 5G. That's how my 5G infrastructure play will capture more market share from the broadband cable companies.The stock I'm targeting is enjoying an influx of big money on Wall Street, and it has strong fundamentals, too -- making it an "A"-rated "Strong Buy" in my Portfolio Grader system.Click here to watch my new, free briefing on this extraordinary technology and the opportunity with 5G stocks.When you do, you'll see how to claim a free copy of my new stock report, The Netflix of 5G, which has full details on this company -- and what makes it such a great investment.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In one recent feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 7 Stocks to Sell as We Enter a Bear Market * 4 Energy Stocks Paying Jaw-Dropping Dividends * 3 Stocks to Buy That Will Dodge Any Volatile Market The post 7 Drowning Energy Stocks to Avoid for Now appeared first on InvestorPlace.

  • Hedge Fund Don’t Like PetroChina Company Limited (PTR) At All
    Insider Monkey

    Hedge Fund Don’t Like PetroChina Company Limited (PTR) At All

    Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

  • Asian spot LNG prices edge higher as supply tightens
    Reuters

    Asian spot LNG prices edge higher as supply tightens

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  • PR Newswire

    CNPC Continues Orderly Overseas Oil and Gas Operations Despite COVID-19 Outbreak

    Andes Petroleum Ecuador LTD. of China National Oil and Gas Exploration and Development Corporation (CNODC), a wholly-owned subsidiary of China National Petroleum Corporation (Shanghai: 601857) (CNPC), has put two new oil wells into production in the Province of Orellana, Ecuador, a breakthrough for CNPC in the field of lithologic oil reservoir exploration.

  • PetroChina suspends some gas contracts as coronavirus hits demand: sources
    Reuters

    PetroChina suspends some gas contracts as coronavirus hits demand: sources

    PetroChina <601857.SS> has suspended some natural gas imports, including on liquefied natural gas (LNG) shipments and on gas imported via pipelines, as a seasonal plunge in demand adds to the impact on consumption from the coronavirus outbreak. The company issued the force majeure notice to suppliers of piped gas and also to at least one LNG supplier, though details of the force majeure notice could not immediately be confirmed. PetroChina, China's top gas producer and piped gas supplier, did not immediately respond to requests for comment.

  • Exclusive: PetroChina suspends some gas contracts as coronavirus hits demand - sources
    Reuters

    Exclusive: PetroChina suspends some gas contracts as coronavirus hits demand - sources

    PetroChina has suspended some natural gas imports, including on liquefied natural gas (LNG) shipments and on gas imported via pipelines, as a seasonal plunge in demand adds to the impact on consumption from the coronavirus outbreak. The company issued the force majeure notice to suppliers of piped gas and also to at least one LNG supplier, though details of the force majeure notice could not immediately be confirmed. PetroChina, China's top gas producer and piped gas supplier, did not immediately respond to requests for comment.

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  • Should Value Investors Buy PetroChina (PTR) Stock?
    Zacks

    Should Value Investors Buy PetroChina (PTR) Stock?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • Reuters

    RPT-China's Unipec snaps up over 6 mln bbls of gasoil in Feb - data

    China's Unipec, an arm of Asia's top refiner Sinopec snapped up the lion's share of gasoil cargoes traded in Singapore this month, despite weaker domestic demand amid a coronavirus epidemic, according to trade data and industry sources. Unipec has bought about 6.4 million barrels of gasoil with a sulphur content of 10 parts per million (ppm) during the Platts Market on Close (MoC) process in Singapore this month, or 77.5% of the total volume of 8.3 million barrels traded in February, the data showed. Unipec bought the majority of these cargoes from PetroChina and Trafigura, starting at cash premiums of as high as $1 a barrel to Singapore quotes near the beginning of this month, down to the most recent purchase at a 20-cent premium on Tuesday.

  • Reuters

    PetroChina buys one out of three LNG cargoes traded on Platts' pricing process

    PetroChina on Wednesday bought a spot liquefied natural gas (LNG) cargo for delivery in April from commodity trader Vitol through the S&P Global Platts' pricing process also known as market-on-close (MOC). The cargo, which traded at $3.05 per million British thermal units (mmBtu), is for delivery over April 20 to 22 into the Japan, Korea, Taiwan, China region and is to be loaded from Das Island, Abu Dhabi, Platts said. Both the buyer and seller may opt for alternate discharge or loading ports respectively, provided they give 30 days notice before initial delivery, the pricing agency added.

  • Reuters

    China's Unipec snaps up over 6 mln bbls of gasoil in Feb - data

    China's Unipec, an arm of Asia's top refiner Sinopec snapped up the lion's share of gasoil cargoes traded in Singapore this month, despite weaker domestic demand amid a coronavirus epidemic, according to trade data and industry sources. Unipec has bought about 6.4 million barrels of gasoil with a sulphur content of 10 parts per million (ppm) during the Platts Market on Close (MoC) process in Singapore this month, or 77.5% of the total volume of 8.3 million barrels traded in February, the data showed. Unipec bought the majority of these cargoes from PetroChina and Trafigura, starting at cash premiums of as high as $1 a barrel to Singapore quotes near the beginning of this month, down to the most recent purchase at a 20-cent premium on Tuesday.