
Recently,weledafieldtriptoMainlandChinavisitingindustryexpertsandparticipantsfocusingonChina’snaturalgasdevelopment.Ingeneral,ourtripfindingssupportourUNDERPERFORMcallonPetroChina.FurtherdownsidetoPetroChina’sgassegmentlikely.WegottheimpressionthatdownstreamdemandwashurtsubstantiallyafterthepricehikeinJuly2013,andthestrongresistancecouldpreventtheNDRCfromraisingpricea...