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PetroChina Second-Quarter Profit Rises 4% From Year Earlier

Aug. 26 (Bloomberg) -- PetroChina Co., Asia’s biggest oil and gas producer, posted a 4 percent increase in second-quarter profit compared with a year earlier.

Net income rose to 32.8 billion yuan ($4.8 billion) in the three months ended June 30 from 31.5 billion yuan a year earlier, according to calculations made by Bloomberg by subtracting first-quarter results from first-half earnings announced today. That compares with the median estimate of 36.2 billion yuan in a survey of nine analysts compiled by Bloomberg.

Earnings growth slowed from the first quarter’s 71 percent increase to 32.5 billion yuan.

To contact the Bloomberg News staff on this story: Wang Ying in Hong Kong at wang30@bloomberg.net

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net.

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