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Petroleum
CP20067.HK
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Middle East Crude-Benchmarks steady after previous drop as market eyes spot demand

Middle East crude benchmarks, including Oman and Murban, saw a slight increase in spot premiums after a previous drop due to ample supplies, while Dubai remained unchanged. The market is evaluating spot trade demand, highlighted by a deal between CNOOC and Reliance. Cash Dubai's premium to swaps stayed at 68 cents a barrel. Additionally, China's crude imports were strong in October, with record shipments from Russia, UAE, and Kuwait. TotalEnergies and Chevron are leading in the bid for a stake in Galp's Mopane discovery in Namibia.

Reuters·
US
TTE
+1.97%
US
CVX
-0.23%
HK
00883
-1.91%
Reuters·
US
TTE
+1.97%
US
CVX
-0.23%
HK
00883
-1.91%

China's CNPC inaugurates power unit in Beijing to drive new energy business

China National Petroleum Corp (CNPC) has inaugurated its power unit, China Petroleum Electric Energy Co Ltd, in Beijing. This unit will serve as a hub for CNPC's new energy business, focusing on power transition and optimizing production, supply, and sales. Established in 2017 with a capital of 5 billion yuan, it is fully funded by CNPC's Daqing Oilfield Co Ltd.

Reuters·
SH
601857
-0.89%
HK
00857
-3.33%
Reuters·
SH
601857
-0.89%
HK
00857
-3.33%

The first gas storage facility cluster in Northwest China has begun supplying gas

The first gas storage facility cluster in Northwest China - the Wengjisang gas storage facility cluster in the Tuha Oilfield has officially started supplying gas. This gas storage facility cluster is located in Shanshan County, Turpan City, Xinjiang, and is transformed from 4 depleted gas reservoirs, with a maximum daily gas supply capacity exceeding 5 million cubic meters, having cumulatively supplied 296 million cubic meters of gas

Wallstreetcn·
SH
601857
-0.89%
HK
00857
-3.33%
Wallstreetcn·
SH
601857
-0.89%
HK
00857
-3.33%

China Oilfield Services Announces 2025 Extraordinary General Meeting

China Oilfield Services Limited has announced its 2025 first extraordinary general meeting on December 2, 2025. Key resolutions include approving continuing connected transactions, amendments to procedural rules, and the cancellation of the Supervisory Committee to streamline governance and improve operational efficiency. The latest analyst rating for the stock (HK:2883) is a Buy with a HK$8.50 price target.

Tip Ranks·
SH
601808
-1.59%
HK
02883
-2.94%
Tip Ranks·
SH
601808
-1.59%
HK
02883
-2.94%

The three major indices of the Shanghai and Shenzhen A-shares opened slightly lower, and the three major oil stocks declined

Today, the three major indices of A-shares opened slightly lower, with the Shanghai Composite Index at 3,996 points, the Shenzhen Component Index at 13,228 points, and the ChiNext Index at 3,119 points. International oil prices fell significantly, with the three major oil stocks CNOOC, PetroChina, and Sinopec opening down 0.5%-1.9%. The central parity rate of the RMB against the US dollar was lowered by 32 points, reported at 7.0865. The People's Bank of China conducted a 190 billion yuan seven-day reverse repurchase operation, with a net injection of 97.2 billion yuan for the day. Some technology stocks, such as Cambricon, opened down 1%

AASTOCKS·
SH
600028
-1.32%
HK
00386
-2.85%
SH
600938
-0.99%
AASTOCKS·
SH
600028
-1.32%
HK
00386
-2.85%
SH
600938
-0.99%
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Fearing Western sanctions, China's oil giants suspend seaborne Russian oil purchases

$CNOOC(00883.HK) has performed well these days.