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

●MMCsignedtwoMoUswithShenhuaGroup,togetherwithothertwoMongoliancoalcompanies,tocollaborateoncross-borderrailwayconstructionandcoaltradefor1bntonnesin20years.●AlthoughtherearenodetailsconfirmedbytheMoUs,weviewthecooperationtobepositiveonMMC'sASPinthelongtermbyprovidingmorestableprocurementforMongoliancoalandcuttingcross-borderandlogisticcostsattheChinaendviarailfacilities.●Ho...