PetroChina Company Limited

Oh, and good.

The, uh, PetroChina.

No, it didn't show up.

Shoot.

Okay, so Micron, Alibaba, Jingdong, NIO, Bitcoin, uh, PetroChina, Guanghui Energy, and coal.

So the New York Stock Exchange, Arca Exchange, is the one that, uh, it is, uh, listed on the Google Sheet.

So that's in the show notes.

Oh, that's because the international markets are still open, uh, or are trading, I should say.

So, uh, Zhongguo Shiyou, China Oil, uh, six zero one eight five seven.

Um, there were Guanghui.

Um, was it Guanghui? What was it called? There was a coal.

Did I mention any other stocks? I don't think so.

Uh, if I can find any Chinese stocks.

What about China Oil? China Oil.

Put that one in there.

You know, it was a major announcement.

Uh, uh, PetroChina, a Chinese, uh, company, is one of the partners in that.

They're a minority, uh, they have a minority stake, but they...

So, uh, just one of these nation-building announcements that was made just in the past week involves new investment on the scale of billions of dollars, new investment.

So China Construction Bank is flat on the day.

Uh, PetroChina is up 2%.

A lot of the China state-owned enterprises were very steady the whole day.

Where that is starting to diverge is you're starting to see Chinese tech also have a very strong PM session, uh, as you guys come in.

Why? Why do we have to do that? Well, hold on a second.

And by the way, very quickly, uh, who is LNG Canada? Well, it's a joint venture company comprised of Shell, Petronas, PetroChina, Mitsubishi Corporation, and KOGAS.

So that's who they are.

Now- Mark Carney could stop them from using Chinese steel by tariffing it, but I don't think he's going to do that.

LNG Canada spokesperson Paul Hagel wrote in the email, and I'll just remind you of who they are again.

It's a conglomeration.

It's a joint venture company comprised of Shell, Petronas, PetroChina, and Mitsubishi Corporation, and go guess.

That's who it is.

The oil they do have is very, very deep oil.

So the state-owned, of course everything in China is state-owned, uh, oil giant PetroChina has produced more than 26 million tons of oil equivalents, oil equivalents from reservoirs dug 6,000 meters, that's o- nearly 20,000 feet below the surface in the Heyduman oil field in the western, uh, region of Xin- uh, Xinjiang, and that's where the Uyghurs are.

So you had to get rid of the Uyghurs to drill for oil.

And it says oil equivalents because we don't know, and this is another thing with the deep oil, and not all deep oil, but this specific deep oil, it's like the oil Canada has, is it's full of particulate.

Uh, and you also have obvious strength in the oil sector that is catching up to some of this Iran drama.

Uh, you have PetroChina up three and Sinopec up three and a half.

But on the downside, you see some significant losses in the new technology space.

You see, uh, Yunji Semiconductor is down 20%, which is limit down.

In other news, China is accelerating its development of ultra-deep oil and gas reserves, reaching depths of six thousand meters or more to bolster domestic supply amidst global energy turbulence.

PetroChina's Hardefuman oil field in Xinjiang exemplifies this, having produced over twenty-six million tons of oil equivalent from these challenging reservoirs.

Technologies enabling wells over eight thousand three hundred meters deep are crucial.

This strategic push aligns with Beijing's five-year plan, targeting a domestic supply of four hundred forty million tons of oil equivalent by two thousand and thirty and significant pipeline network expansion.

Shell Canada Energy is the majority operator and project leader in Kitimat, holding a 40% stake in LNG Canada.

State-owned PetroChina, the largest oil and gas producer, supplier, and global investor in China, is a 15% shareholder.

The other three partners in the joint venture are Malaysia's Petronas, 25%, Japan's Mitsubishi Corporation, 15%, and the Korea Gas Corporation, or Kogas, 5%.

Now, We need to bring this back up because the one thing that CBC chose not to mention in here is that the Offshore Oil Engineering Corporation or COOEC is also state owned.

So as of today, it's still active, which means that since 2019, Is there a possibility that the Chinese state owned steel manufacturer kept sending steel into Canada to be dumped onto Canadian soil? It's possible.

We don't know because we'd have to see all of the customs records and we'd have to see how that was even done.

But I think it's very interesting that there is already PetroChina as a state ownership company that owns 15% of LNG Canada over here.

And then you have a state-owned steel manufacturer on mainland China.

What's going on, Wolf? Yes, you have Chinese refiners suspend October fuel exports.

PetroChina canceled cargoes.

Okay, this is gonna get insane [laughs].

And it's not even over yet.