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Petro Matad nears approval for 2026 oil sales deal with PetroChina, unlocking 35,000 barrels of crude sales.

Market News
28 May 2026
Proactive Investors - Finance
View Source
Bullish
pluang ai news

Petro Matad expects imminent approval of its 2026 Oil Sales Agreement with PetroChina, which could enable sales of about 35,000 barrels of crude oil accumulated in Block XX this year. The company resolved outstanding issues from the 2025 agreement and aligned the 2026 contract with Mongolian petroleum and tax laws. Production from Block XX remains steady, with daily outputs from Heron-1 and Gazelle-1 wells meeting or exceeding expectations. Petro Matad is also considering a high-resolution 3D seismic survey and continues farm-out talks, boosted by higher oil prices increasing partner interest.

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