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CHK Oil ( (HK:0632) ) just unveiled an announcement.
CHK Oil’s subsidiary Palm Energy detailed its trading arrangements with three mainland oil counterparties, showing substantial use and partial refund of trade deposits tied to purchases of crude, condensate and other oil products. Under agreements with Anda and Songyuan, most deposits have been utilised through product deliveries, with only relatively small balances refunded or remaining unutilised, indicating these contracts have largely run their course operationally.
The group’s largest current exposure is to Longyou, where Palm Energy has paid about RMB134 million in deposits, received deliveries worth roughly RMB55 million and a small refund, leaving more than RMB75 million still unutilised. The Longyou framework has been extended to mid‑2026, broadened to cover more oil products and now carries a 3% annual interest on any refundable balance, giving CHK Oil both extended procurement optionality and downside protection if Longyou fails to complete deliveries.
The most recent analyst rating on (HK:0632) stock is a Hold with a HK$0.26 price target. To see the full list of analyst forecasts on CHK Oil stock, see the HK:0632 Stock Forecast page.
More about CHK Oil
CHK Oil, incorporated in Bermuda and listed in Hong Kong, operates through its wholly owned subsidiary Palm Energy to trade crude oil, condensate oil and other oil-related products. The group focuses on securing supply contracts and framework agreements with mainland Chinese counterparties to support its oil trading activities and manage commodity procurement risk.
Average Trading Volume: 32,154,918
Technical Sentiment Signal: Buy
Current Market Cap: HK$360.7M
For a thorough assessment of 0632 stock, go to TipRanks’ Stock Analysis page.