Commodities
PetroChina Profits Fall on Weaker Oil and Economic Slowdown
- Rise in drilling output unable to outweigh refining weakness
- Natural gas profits rise as demand seen growing into future
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PetroChina Co.’s profit fell in the third quarter amid lower global oil prices and continued weakness in the domestic economy.
The firm reported 43.91 billion yuan ($6.2 billion) net profit, compared to 46.4 billion yuan in the same period last year, it said in an exchange filing on Tuesday.