The Zhitong Finance App learned that Citibank released a research report stating that the CNPC (00857.HK) model was updated to reflect Citi's latest Brent crude oil assumptions. The third-quarter/quarter of 2026 and 2027 were 75, 70, and 65 US dollars per barrel, respectively. CNPC's earnings forecast per share for the 2026 fiscal year was raised by 26%, but remained essentially unchanged for the 2027 fiscal year, down only 1%. This update also introduces the 2028 fiscal year forecast. The target price rose from HK$10 to HK$12, mainly reflecting the revised DCF valuation for exploration and production. The long-term Brent crude oil price was US$65 per barrel, compared to the previous value of US$60 per barrel.

The Zhitong Finance App learned that Citibank released a research report stating that the CNPC (00857.HK) model was updated to reflect Citi's latest Brent crude oil assumptions. The third-quarter/quarter of 2026 and 2027 were 75, 70, and 65 US dollars per barrel, respectively. CNPC's earnings forecast per share for the 2026 fiscal year was raised by 26%, but remained essentially unchanged for the 2027 fiscal year, down only 1%. This update also introduces the 2028 fiscal year forecast. The target price rose from HK$10 to HK$12, mainly reflecting the revised DCF valuation for exploration and production. The long-term Brent crude oil price was US$65 per barrel, compared to the previous value of US$60 per barrel.