PetroChina Posts Record First-Half Profit Despite China Slowdown
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A PetroChina Co. gas station in Shanghai, China.
Photographer: Raul Ariano/BloombergThis article is for subscribers only.
China’s biggest oil company posted a record first-half profit as higher output offset lower crude prices and a slowdown in the nation’s economy.
PetroChina Co.’s net income rose 4.5% to 85.3 billion yuan ($11.7 billion) in the six months through June from a year earlier, it said in an exchange filing. The company reported a 82.39 billion yuan profit in the first half of 2022.