The key issue: Chinese state-owned CNPC is expected to continue ramping up domestic gas production, buoyed by greater sales in 2018.
Interfax analysis: Bumper profits for 2018 mean China National Petroleum Corp. (CNPC) is likely to accelerate its strategic switch away from oil towards the cleaner and more lucrative gas.
CNPC, the parent of PetroChina, reported a total profit of RMB 110 billion ($16.5 billion) in 2018 – its highest level since 2014 – which saw it overtake Sinopec as China’s most profitable...
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