Chinese Oil and Gas Majors Offer Effective Hedges Against Geopolitical Risks -- Market Talk

Dow Jones

02/13

0816 GMT - Chinese oil and gas stocks remain effective hedges against geopolitical risks and offer attractive dividend yields, Morningstar equity research director Chokwai Lee says in a note. The oil and gas majors have outperformed the broader market alongside rising oil prices, though Lee expects crude to ease in the coming quarters as geopolitical risks subside. Morningstar maintains its valuations on Cnooc, PetroChina and Sinopec, noting their H shares appear fairly valued. Cnooc is the preferred pick, supported by its cost efficiency and production growth, with investors likely to focus on its capex plans and three-year outlook. Markets will also watch for guidance from PetroChina and Sinopec. While EV adoption pressures refined fuel demand, China's refinery output cap should aid industry consolidation and help offset headwinds.(jason.chau@wsj.com)

(END) Dow Jones Newswires

February 13, 2026 03:16 ET (08:16 GMT)

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The oil and gas majors have outperformed the broader market alongside rising oil prices, though Lee expects crude to ease in the coming quarters as geopolitical risks subside. Morningstar maintains its valuations on Cnooc, PetroChina and Sinopec, noting their H shares appear fairly valued. Cnooc is the preferred pick, supported by its cost efficiency and production growth, with investors likely to focus on its capex plans and three-year outlook. Markets will also watch for guidance from PetroChina and Sinopec. While EV adoption pressures refined fuel demand, China's refinery output cap should aid industry consolidation and help offset headwinds.(jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 13, 2026 03:16 ET (08:16 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Oil and Gas Majors Offer Effective Hedges Against Geopolitical Risks -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Oil and Gas Majors Offer Effective Hedges Against Geopolitical Risks -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2026-02-13 16:16</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0816 GMT - Chinese oil and gas stocks remain effective hedges against geopolitical risks and offer attractive dividend yields, Morningstar equity research director Chokwai Lee says in a note. The oil and gas majors have outperformed the broader market alongside rising oil prices, though Lee expects crude to ease in the coming quarters as geopolitical risks subside. Morningstar maintains its valuations on Cnooc, PetroChina and Sinopec, noting their H shares appear fairly valued. Cnooc is the preferred pick, supported by its cost efficiency and production growth, with investors likely to focus on its capex plans and three-year outlook. Markets will also watch for guidance from PetroChina and Sinopec. While EV adoption pressures refined fuel demand, China's refinery output cap should aid industry consolidation and help offset headwinds.(jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 13, 2026 03:16 ET (08:16 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0348735423.USD","symbol_name":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2611312671","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2611312671","pubTimestamp":1770970560,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0816 GMT - Chinese oil and gas stocks remain effective hedges against geopolitical risks and offer attractive dividend yields, Morningstar equity research director Chokwai Lee says in a note. The oil and gas majors have outperformed the broader market alongside rising oil prices, though Lee expects crude to ease in the coming quarters as geopolitical risks subside. Morningstar maintains its valuations on Cnooc, PetroChina and Sinopec, noting their H shares appear fairly valued. Cnooc is the preferred pick, supported by its cost efficiency and production growth, with investors likely to focus on its capex plans and three-year outlook. Markets will also watch for guidance from PetroChina and Sinopec. 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The oil and gas majors have outperformed the broader market alongside rising oil prices, though Lee expects crude to ease in the coming quarters as geopolitical risks subside. Morningstar maintains its valuations on Cnooc, PetroChina and Sinopec, noting their H shares appear fairly valued. Cnooc is the preferred pick, supported by its cost efficiency and production growth, with investors likely to focus on its capex plans and three-year outlook. Markets will also watch for guidance from PetroChina and Sinopec. While EV adoption pressures refined fuel demand, China's refinery output cap should aid industry consolidation and help offset headwinds.(jason.chau@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 13, 2026 03:16 ET (08:16 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}