Petro Matad has stopped production at its Heron-1 and Gazelle-1 wells in Mongolia after PetroChina ordered a halt to deliveries of Block XX crude, continuing a dispute over their 2026 Oil Sales Agreement. Despite PetroChina's earlier written assurance that issues were resolved, internal discussions at PetroChina's head office have delayed invoice processing, leading to storage capacity concerns and a delivery stop ahead of Chinese national holidays. Petro Matad is escalating the issue through government and diplomatic channels while exploring alternative buyers. The company remains financially stable to operate into 2027 despite the sales delay.

Petro Matad production halt in Mongolia is the subject, with Pluang's energy sector market data providing context. As of Sep 22, 2026 10:51 WIB, 11 of 35 priced Energy-sector US stocks rose while 24 fell. Notable prices include Sunrun Inc (RUN) at USD 8.79 with a 3.05% increase, Exxon Mobil Corporation (XOM) at USD 158.32 with a 2.98% decrease, and Ecopetrol SA (EC) at USD 17.06 with a 2.96% decrease.

Published Date:2026-09-23