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logoMorningstar•October 30, 2020

PTR: PetroChina’s Q3 Gets Lift From Higher Oil Prices and Downstream Recovery; Shares Undervalued

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Summary

PetroChina, the national champion that inherited the majority of Chinese onshore oil and gas assets, has developed into an international supermajor, with an expansive pipeline network that supplies more than 75% of China’s natural gas demand. It produces more than 1.4 billion barrels of oil equivalent of oil and gas annually and has more than 1.2 billion barrels of annual crude oil primary distillation capacity and roughly 21,000 service stations. The fluctuations in the prices of crude oil, refined products, chemical products, and natural gas have a significant impact

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Analyst Profile

Chokwai Lee

Senior Equity Analyst
Chokwai Lee, CFA, is a senior equity analyst for Morningstar Investment Adviser Singapore Pte Ltd., a wholly owned subsidiary of Morningstar, Inc. He covers the energy and materials sectors.Lee has over 10 years’ experience in equity research. Before joining Morningstar in 2015, he had independent research experience at a multinational corporation and buy-side exposure as a fund manager. In addition, Lee has a credit research background in the Singapore-dollar bond market. His previous coverage includes consumer staples, consumer discretionary, real estate, and materials names in the Asia ex-Japan region.Lee has a master’s degree in commerce (advanced finance) from the University of New South Wales and holds the Chartered Financial Analyst® designation.