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Petro Matad shares drop 19% after PetroChina halts crude deliveries amid storage issues.

Market News
22 Sep 2026
Proactive Investors
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Bearish
Petro Matad shares drop 19% after PetroChina halts crude deliveries amid storage issues.

Shares of Mongolian oil firm Petro Matad fell 19% after PetroChina ordered a stop to crude deliveries, leading Petro Matad to shut its Heron-1 and Gazelle-1 wells. PetroChina's Mongolian unit cited nearly full storage tanks ahead of China's national holidays as the reason, despite earlier assurances that sales issues were resolved. Petro Matad is seeking resolution through Mongolia's deputy prime minister and exploring alternative buyers while managing cash to sustain operations into 2027.

Petro Matad shares fell sharply after PetroChina blocked crude deliveries. For readers following energy stocks, here is Pluang's market snapshot as of Sep 22, 2026 14:51 WIB: Among 35 priced Energy-sector US stocks tradable on Pluang, 22 rose and 11 fell. Notable movers include CNQ at USD 48.62 with a 1-day change of +0.70% and a typical hold time of 70 days, WMB at USD 72.11 with a 1-day change of +0.64%, and OXY at USD 57.55 with a 1-day change of +0.52%.

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