PetroChina's Share Rating Is Raised by Deutsche on China Share Sale, Oil

(Bloomberg) -- PetroChina Co. had its stock rating
raised by Deutsche Bank AG because climbing oil prices and a
Shanghai listing by the nation's biggest oil company are likely
to prompt further gains in its shares.

The stock was upgraded to ``buy'' from ``hold'' and the
target price increased to HK$13.38 from HK$12.21, Deutsche Bank
analysts David Hurd and Christine Pu wrote in a research note.


Read more at Bloomberg Emerging Markets News

PetroChina's Production Climbs 3.7 Percent, Outpacing Exxon Mobil, Shell

(Bloomberg) -- PetroChina Co.'s first-half
production increased 3.7 percent as the nation's largest oil and
gas producer intensified efforts to meet rising energy demand.

Crude oil and gas output rose to the equivalent of 3.05
million barrels of oil a day, the Beijing-based company said
today. Oil production gained 0.1 percent from a year earlier,
while gas jumped 16.5 percent.


Read more at Bloomberg Emerging Markets News

Asian Stocks Rise to a Record, Led by Cnooc on Oil Price; Hon Hai Advances

(Bloomberg) -- Asian stocks climbed, sending a
regional benchmark to a record, after crude-oil prices traded
near a two-week high and HSBC Holdings Plc raised its targets for
Cnooc Ltd. and PetroChina Co.'s shares.

``Money is heading to commodity-related shares, pushing the
level of the overall market higher,'' said Terunobu Kinoshita,
who helps manage $785 million at Fund Creation Co. in Tokyo.
``Investors should anticipate further gains.''


Read more at Bloomberg Stocks News

Asian Energy Stocks Climb, Led by Cnooc on Oil Price Rise; Hon Hai Gains

(Bloomberg) -- Asian energy stocks rose after crude-
oil prices traded near a two-week high and HSBC Holdings Plc
raised its targets for Cnooc Ltd. and PetroChina Co.'s shares.

``Money is heading to commodity-related shares, pushing the
level of the overall market higher,'' said Terunobu Kinoshita,
who helps manage $785 million at Fund Creation Co. in Tokyo.
``Investors should anticipate further gains.''


Read more at Bloomberg Stocks News