HONG KONG (Nikkei Markets) -- PetroChina signaled on Thursday that it was still in a wait-and-watch mode with regards to its targeted capital expenditure and production goals for 2020 following the historic plunge in oil prices that have begun to hurt its financial performance.
Chief Financial Officer Chai Shouping said on a conference call that the Chinese energy giant is currently in the middle of compiling a capex plan that is "dynamic to the change in oil prices," and that the overarching objective is to "make ends meet" while realizing positive free cash flows.
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