Sector News

PetroChina profit dives 63 pct in first half

August 27, 2015
News

PetroChina, China’s biggest oil and gas producer, reported a 63 percent drop in its first-half profit, with earnings upstream and in the marketing segment both taking a hit from lower prices.

Net profit declined to 25.4 billion yuan ($3.97 billion) in the first six months of 2015, from 68.1 billion yuan a year ago, the state-controlled company said on Thursday in a filing with the Hong Kong bourse.

In April, PetroChina reported a 82 percent slump in net profit for the first quarter.

Source: Energy Voice

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