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

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