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China entered a new round of oil and gas discovery peaks. After PetroChina discovered a one billion tons of large oil fields in the Qiandongbao Oilfield, the three major oil and petrochemical groups successively discovered new oil and gas discoveries in Sichuan, Xinjiang, and the South China Sea. The new oil and gas discovery and the construction of the crude oil reserve base will help reduce the foreign dependence of China's crude oil.
The natural gas business is expected to become a new bright spot for Sinopec's future development. According to the "Eleventh Five-Year Plan" for energy development formulated by the National Development and Reform Commission, the development of natural gas in the next few years will be much faster than Other energy sources. The discovery of Sinopec Puguang Gas Field will lay a solid foundation for the development of the company's natural gas business. According to our forecast, by 2011, the revenue share of the natural gas business in the company's exploration and production division will reach more than 20%. Maintain “Buy†investment rating on Sinopec. (1) The breakthrough in marine exploration and development technology will help the company to obtain new oil and gas discoveries. (2) The exploitation of Puguang Gas Field will increase the proportion of natural gas business in the company's revenue. The natural gas business is expected to become a new bright spot for the company's future development. (3) Oil and gas price reform will greatly improve the profitability of the company's refining business. (4) According to the valuation results of PE and DCF, we believe that the reasonable value range of the company's stock is between 16.20 and 18.61 yuan, and continue to give a “buy†investment rating.
The natural gas business is expected to become a new bright spot for Sinopec's future development. According to the "Eleventh Five-Year Plan" for energy development formulated by the National Development and Reform Commission, the development of natural gas in the next few years will be much faster than Other energy sources. The discovery of Sinopec Puguang Gas Field will lay a solid foundation for the development of the company's natural gas business. According to our forecast, by 2011, the revenue share of the natural gas business in the company's exploration and production division will reach more than 20%. Maintain “Buy†investment rating on Sinopec. (1) The breakthrough in marine exploration and development technology will help the company to obtain new oil and gas discoveries. (2) The exploitation of Puguang Gas Field will increase the proportion of natural gas business in the company's revenue. The natural gas business is expected to become a new bright spot for the company's future development. (3) Oil and gas price reform will greatly improve the profitability of the company's refining business. (4) According to the valuation results of PE and DCF, we believe that the reasonable value range of the company's stock is between 16.20 and 18.61 yuan, and continue to give a “buy†investment rating.
Ningbo Aurich Electronics Co.,Ltd , http://www.powercord-manufacturers.com