We are upgrading PetroChina (PTR) ADRs to Outperform from Neutral, reflecting the company’s leverage to the fast-growing Chinese market and the turnaround in commodity prices. Being one of the two Chinese integrated oil companies, PetroChina is well-positioned to capitalize on these favorable trends.

We also like the company’s recent foray in the oil sands business through its $1.8 billion acquisition of majority stakes in two Canadian projects. Attractive growth prospects in the downstream and natural gas sectors are other positives in the PetroChina story.

Despite some near-to-medium term concerns that include rising costs, a downstream-centric asset portfolio and special levies on domestic crude oil sales, the company’s long-term outlook is compelling.

Zacks Investment Research

1. (PTR) PetroChina Company Seeks More VolumesPetroChina Company Ltd. (PTR) – the largest integrated oil company in China – plans to...
2. (PTR) PetroChina Net Earnings Sags on Energy SlumpChinese energy giant PetroChina Co. Ltd. (PTR) announced third quarter earnings of RMB 30.8 billion...
3. (PTR) PetroChina on Track to Meet its Annual Production TargetPetroChina (PTR) is right on track to meet its annual production target from Changqing field...
4. (PTR) PetroChina Focused on Doubling Gas SuppliesOn increasing demand, PetroChina (PTR) plans to increase the quantum of gas supply to Beijing....
5. (PTR) PetroChina Joins with Huaneng Power on Natural Gas Power GenerationThe world’s second largest oil and gas producer by market value, PetroChina Co. Ltd. (PTR),...
6. (PTR) PetroChina to Begin Building a Natural Gas Plant in Inner MongoliaPetroChina Company Ltd. (PTR) has discovered solid gas flow at an onshore well in the...

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