RE: PetroChina are......31 May 2025 14:53
I agree and it was previously disclosed in an RNS that "PetroChina is responsible for processing, transport and export of the crude to the buyers in China" . Note the word "export" that they are responsible for .
They have the knowledge of export taxes / import taxes etc etc. This is their bread and butter and have huge experience and should have a good understanding of this.
They should not be asking the supplier to clarify what they should already know , especially after "months" of sales agreements and discussions. Tax , VAT, customs , royalties etc are central to any sales agreements in oil and gas. It makes or breaks a company especially with crude at now ~$60
For MB to then suggest PC don't know the details of tax etc in the sales agreement is pure comedy after months of negotiations.
I have emailed PC to request clarification , and asked them to comment on why payments are being withheld that has caused a 30% crash a companies SP, lost investors a lot of money, and it being implied that they do not understand tax regimes in an area of their operations after months of discussions.
That RNS, being comedy gold , does not bode well on both PC and MATD if they cant get the "basics right". What would the local government also think if the 2 oil producers cant agree on these basic principles after months of negotiations. I'll let you know if PC do respond.