China’s fossil-fuel phase-out fails to alarm big oil investors

September 11, 2017

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In the first day of trading after China said it’s working on a deadline to end sales of fossil-fuel-powered vehicles, shares are holding ground in the oil companies that stand to lose out.

The listed units of China’s big three oil companies – PetroChina, Cnooc and China Petroleum & Chemical – all posted gains in early trading on Monday in Hong Kong, most likely buoyed by a tick up in crude prices.

Category: General