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<Research>M Stanley Expects 3Q Earnings of PETROCHINA/ CNOOC to Slip 10-13% QoQ w/ Greater Drop for SINOPEC CORP on Inventory Loss
Recommend 21 Positive 30 Negative 31 |
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Oil price fell by about US$7 per barrel QoQ in 3Q24, while corporate refining profit were also expected to be contracted due to inventory loss, Morgan Stanley released a research report saying. In addition, as the cost of imported natural gas dropped, wholesale gas profit may rise QoQ. Currently, the broker forecasted 3Q24 earnings of PETROCHINA (00857.HK)/ CNOOC (00883.HK) to slip by 10-13% QoQ, while SINOPEC CORP (00386.HK) may post greater earnings decline on inventory loss. AAStocks Financial News |
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