PetroChina First-Half Profit Rises 5.6% After Output Increases
PetroChina, the country’s biggest oil and natural gas producer, posted a 5.6 percent increase in first-half profit as gas and crude production gained.
Net income increased to 65.5 billion yuan ($10.7 billion), or 0.36 yuan a share, in the six months ended June 30 from 62 billion yuan, or 0.34 yuan, a year earlier, the Beijing-based energy explorer and oil refiner said today in a statement to the Hong Kong stock exchange. Revenue climbed 5.2 percent to 1.1 trillion yuan.
PetroChina produced 697.2 million barrels of oil equivalent in the first half, up 4.4 percent from a year earlier, while the average realized crude price dropped 6.9 percent to $100.49 per barrel.
To contact the reporter on this story: Aibing Guo in Hong Kong at firstname.lastname@example.org
To contact the editor responsible for this story: Jason Rogers at email@example.com