PetroChina shares soar on natural gas price hike

Shares of China’s dominant oil and gas producer PetroChina soared on Tuesday after Beijing announced that it would raise natural gas prices for industrial and commercial users by 15 per cent as part of efforts to boost gas consumption.

Shares of PetroChina, which suffered huge losses last year from selling imported natural gas in the domestic market at a loss, opened up 6.4 per cent at HK$8.78 in Hong Kong.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1273722/petrochina-shares-soar-natural-gas-price-hike