Company: PetroChina Company Limited

China stocks may trade lower on Thursday, weighed down by uncertainties about the global economy and China's own fiscal policy response.

The market for equities has gone through numerous crises, bubbles and ups and downs, but when an initial public offering comes, it can create lots of excitement for investors and generate perhaps billions of dollars for the company.

HONG KONG/PERTH (Reuters) - The cost of Royal Dutch Shell <RDSa.L> and PetroChina's <0857.K> Australian joint venture LNG may rise as much as 50 percent from initial estimates, which could force the companies to delay development, a source close to the project said on Friday.

HONG KONG/PERTH (Reuters) - The cost of Royal Dutch Shell <RDSa.L> and PetroChina's <0857.K> Australian joint venture LNG may rise as much as 50 percent from initial estimates, which could force the companies to delay development, a source close to the project said on Friday.

PetroChina reported a 26 percent drop in quarterly earnings, lagging forecasts, due largely to hefty refining losses, and the oil major forecast slower output growth for this year.

Sinopec, China’s second largest integrated oil company, said its quarterly profit sank 30 percent, missing forecasts, as big losses at its refining arm offset upstream gains.