MBCNOOC@EC2609A

TRANSTHERA-B

ASIA STRAT TECH

SUMMI

MANY IDEA CLOUD

ZHONGMIAO

SKYMISSION GP

NICHE-TECH SEMI

KFM KINGDOM

INCON

CHINA CHENGTONG

600028

00883

600938

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00386

00857

The geopolitical situation reshapes the value of "energy security," and Morgan Stanley is optimistic about China's "three oil giants." The bank believes that PetroChina controls core domestic resources and is evolving from a price taker to a "local energy security champion" with pricing power. Sinopec, although facing freight inflation pressure, still has upward potential in downstream profitability. CNOOC, on the other hand, amplifies profit elasticity under high oil prices with its extreme cost efficiency and production growth potential

- Morgan Stanley highlights the strategic value of China's three major oil companies amid rising energy security concerns due to geopolitical tensions and supply chain adjustments.  
- The report asserts that domestic upstream producers and energy import assets in China are set to benefit from a security-driven valuation reassessment, particularly emphasizing China National Petroleum Corporation's role as a local energy security champion.  
- The firm has raised target prices for these companies significantly, reflecting their enhanced strategic value and persistent profitability in the face of evolving geopolitical landscapes.

Wallstreetcn

Sinopec Corp.

CNOOC

PETROCHINA

SINOPEC CORP

A New Era of Energy Security: Reassessing the "Three Oil Giants"?

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159309

SHEL

516570

159588

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561760

159731

SHEH

Shell-CNOOC JV to Shut Steam Cracker in China Amid Feedstock Supply Disruptions

marketscreener

Yinhua CSI Oil & Gas Resources ETF

China Universal CSI Oil & Gas Resources ETF

Shell

E Fund CSI Petrochemical Industry ETF

Invesco Great Wall CNI Oil&Gas ETF

Guotai CSI Oil & Gas Industry ETF

Bosera CSI Oil & Gas Resources Index ETF

ChinaAMC CSI Petrochemical Industry ETF

Shell plc ADRhedged

Shell-CNOOC JV to Shut Steam Cracker in China Amid Feedstock Supply Disruptions

SHEL.WI

Shell-CNOOC China joint venture to close steam cracker due to feedstock disruption, sources say

Shell PLC

Shell-CNOOC China joint venture to close steam cracker due to feedstock disruption, sources say

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Morgan Stanley has raised its forecast for Brent crude oil prices in 2026 to USD 72.5 per barrel and has upgraded the target prices for the "three oil giants," all recommending "overweight." The target price for PetroChina H shares has been increased from HKD 10.25 to HKD 13.25, Sinopec H shares from HKD 6.4 to HKD 6.98, and CNOOC H shares from HKD 17.6 to HKD 28.9. The firm is optimistic about the strategic value and profitability sustainability of PetroChina due to energy security and believes that Sinopec's profit outlook is positive

AASTOCKS

SINOPEC SSC

ZPEC

Morgan Stanley raised its Brent crude oil forecast for this year to USD 72.5 per barrel and upgraded the target prices for the "three oil giants," urging to "overweight."

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Hong Kong stocks closed mixed: the Hang Seng Index rose 0.28% to 25,321.34, the Tech Index fell 0.69% to 4,796.33, and the National Enterprises Index fell 0.38% to 8,451.43. The technology internet and energy sectors weakened, with Alibaba down 2.77% and Tencent down 0.79%, dragging the market; the top trading volumes were Alibaba at HKD 1,811,139.75 thousand, Tencent at HKD 1,216,376.63 thousand, and China National Offshore Oil Corporation at HKD 589,461.73 thousand, with overall sentiment being neutral to cautious

- On March 5, 2026, the three major indices showed mixed results, with a cautious market sentiment and short-term focus on overcoming earlier highs. 
- The Hang Seng Index closed up by 0.28% at 25,321.34 points, while the Hang Seng Tech Index fell by 0.69% to 4,796.33 points, reflecting a pullback from previous highs. 
- Key sectors like oil and gas faced pressure, and major stocks such as Alibaba and Tencent experienced declines, emphasizing an increase in cautious market behavior.

Market Heartbeat

BABA-W

JD-SW

MNSO

TENCENT

KUAISHOU-W

BIDU-SW

UNITEDENERGY GP

CHK OIL

GIGADEVICE

INNOVENT BIO

JIAXIN INTL RES

COSCO SHIP HOLD

Hong Kong Stock Market Closing | Hang Seng Index rose 0.28%, Tech Index fell 0.69%, AIA Group rose 5.06%

02883

China sets crude annual output target at 200 mln tons for next five years

CHINA OILFIELD

COSL

CHINA BLUECHEM

China sets crude annual output target at 200 mln tons for next five years

China's government has instructed its largest oil refiners to halt diesel and petrol exports due to disruptions in crude supply from the Persian Gulf amid escalating conflict. The National Development and Reform Commission (NDRC) met with refinery executives to request a temporary suspension of refined product shipments, effective immediately. Exceptions were made for jet and bunker fuel for bonded storage and supplies to Hong Kong and Macau. This move reflects China's prioritization of domestic needs as the crisis in the Middle East intensifies, impacting regional fuel supplies.

Businesstimes News

China tells top refiners to halt diesel and petrol exports

As of noon, the Hang Seng Index reported 25,459.66 points, up 0.83%; the Hang Seng Tech Index reported 4,829.29 points, basically flat; the National Enterprises Index reported 8,503.16 points, up 0.23%. The sectors showed divergence, with internet content and information rising, Tencent up 0.49%, Baidu up 1.30%, and Kuaishou up 0.84%; oil and gas exploration and production fell, with China National Offshore Oil down 1.40%; retailers weakened, with Alibaba down 1.15% and JD.com down 0.71%. Funds focused on internet leaders and earnings report events, while oil and gas faced downward pressure

- As of March 5, Hong Kong's major indices showed mixed performance, with the Hang Seng Index at 25,459.66, up 0.83%, indicating continued volatility.  
- Retail stocks fell amid concerns over company events and financial reporting, with Alibaba down 1.15% and JD.com down 0.71%, while the internet sector rallied, led by Tencent and Baidu.  
- Macro factors include Fed policies affecting local liquidity and market valuation, with a focus on tech performance and fluctuating local currencies impacting investor sentiment.

IFBH

NANJING PANDA

SH ELECTRIC

E&P GLOBAL

DONGFANG ELEC

Hong Kong Stock Midday Review | Hang Seng Index up 0.83%, tech stocks strengthen while oil and gas weaken

UBS has raised its average price forecast for Brent crude oil in 2026 to $72, and based on this, has upgraded the earnings forecasts and target prices for PetroChina and CNOOC. The target price for PetroChina's H shares has been raised by 10% to HKD 12.6, while the target price for CNOOC's H shares has increased by 12% to HKD 33.6. The bank has also raised its natural gas price forecasts and maintains CNOOC's H shares and PetroChina's H shares as industry favorites, with all related stocks rated as "Buy."

UBS raises the average price of Brent crude oil to USD 72 this year, upgrading the target prices for PetroChina and CNOOC

CNOOC increased shareholdings in co's A-shares by 705,500 shares for RMB30 mln from Oct 9 to Mar 4

CNOOC increased shareholdings in co's A-shares by 705,500 shares for RMB30 mln from Oct 9 to Mar 4

CNOOC's Actual Controller Boosts Shareholding

CNOOC's Actual Controller Boosts Shareholding

$CNOOC(00883.HK) has performed well these days.

CNOOC-R

MBCNOOC@EC2609A(26545.HK)

A New Era of Energy Security: Reassessing the "Three Oil Giants"?

Shell-CNOOC JV to Shut Steam Cracker in China Amid Feedstock Supply Disruptions

Shell-CNOOC China joint venture to close steam cracker due to feedstock disruption, sources say

Morgan Stanley raised its Brent crude oil forecast for this year to USD 72.5 per barrel and upgraded the target prices for the "three oil giants," urging to "overweight."

Hong Kong Stock Market Closing | Hang Seng Index rose 0.28%, Tech Index fell 0.69%, AIA Group rose 5.06%