Yes, it's bearish for PetroChina.
$CNOOC(00883.HK) CNOOC's overseas crude oil accounts for one-third of its total, which is much higher than PetroChina's, and both can maintain normal production or even increase output, while PetroChina faces production cuts or shutdowns in projects in the Middle East such as Iraq. Especially in Guyana, the increase in oil prices translates almost entirely into pure profit. When I bought CNOOC five years ago, the potential of Guyana was not yet clear, but now it looks like a real gold mine.$PETROCHINA(00857.HK)
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