Shanghai, Jan 18, 2026, 04:19 CST — The market has closed.
- PetroChina Class A (601857) ended at 9.80 yuan, slipping 1.7%, while the Shanghai Composite fell just 0.26%.
- Reuters says Shell and Mitsubishi are looking into selling their stakes in LNG Canada, where PetroChina holds a 15% share.
- Oil closed up Friday following a turbulent week, with experts pointing to geopolitics and Venezuelan supply disruptions as the upcoming drivers of price swings.
PetroChina Co., Ltd. Class A shares (601857) slipped 1.7% to 9.80 yuan on Friday, following a session range of 9.71 to 9.99 yuan. The Shanghai Composite wrapped up down 0.26% at 4,101.9. (AAStocks)
China’s market is closed for the weekend, leaving PetroChina’s next move tied to two volatile benchmarks: crude and gas prices. The stock remains a key liquid proxy for energy risk in onshore trading, particularly when company updates run dry.
Late this week, a notable development emerged: Shell and Mitsubishi are considering selling their stakes in the C$40 billion ($28.8 billion) LNG Canada project, according to sources who spoke to Reuters. PetroChina owns a 15% share. Shell, in talks with Rothschild to gauge buyer interest, might sell up to 30% of the venture. At the same time, Mitsubishi has brought in RBC as it reviews its options, the sources added. (Reuters)
PetroChina investors aren’t debating if partners will cut back exposure — that’s a given. The real issue is how such moves affect the timing and cost of the next expansion. Changes in ownership stakes could reshape expectations for Phase 2 spending and governance, which in turn influences market valuations of PetroChina’s gas growth.
Oil prices edged higher Friday, with Brent closing at $64.13 a barrel, up 0.58%, and U.S. WTI finishing at $59.44, a 0.42% gain. Some investors were closing short positions ahead of the U.S. Martin Luther King Jr. holiday weekend. “Buying today seems to be people not wanting to be caught short over the long weekend,” said Phil Flynn, senior analyst at Price Futures Group. (Reuters)
Rising crude prices typically boost PetroChina’s upstream profits, yet refining margins can suffer if product prices don’t keep pace. This tug-of-war explains why the stock doesn’t always track oil closely, particularly when investors believe policy moves or demand shifts will dictate the next move rather than supply.
Leverage is under scrutiny back in China. Starting Jan. 19, Chinese stock exchanges will hike the minimum margin requirement for new loans from 80% to 100%. The China Securities Regulatory Commission greenlit the change as part of its promise to tighten oversight and clamp down on excessive speculation. (Reuters)
The risk scenario is clear. Should Iran-related tensions cool down more and the oil “risk premium” drop off, PetroChina might lose ground without any specific company news. On another front, if concerns about a global LNG glut grow stronger and LNG Canada’s expansion hits more hurdles, the offshore gas segment could lose its shine as a straightforward plus.
Traders will zero in on Monday’s reopening — Jan. 19 — when the higher margin requirement takes effect and PetroChina A-shares resume trading, with oil’s direction shaped by weekend headlines. Also in focus: any updates on LNG Canada stake talks hitting the tape.
