PetroChina Renews Currency Derivatives Framework with CNPC Finance for 2026
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PetroChina has renewed its 2026 Derivatives Framework Agreement with CNPC Finance, a subsidiary of its controlling shareholder CNPC. This agreement involves currency derivatives services and is classified as a continuing connected transaction under Hong Kong listing rules. It requires PetroChina to ensure terms are competitive with independent institutions to protect minority shareholders. The agreement reflects subdued demand for swap transactions due to narrower interest rate spreads. PetroChina is a major oil and gas producer in China, with a recent analyst rating of 'Buy' and a price target of HK$10.00.
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