PetroChina Q3 Net Profit Rises 21.6 Percent
PetroChina posted a 21.6 percent increase in third quarter net profit to 51.84 billion yuan. The growth was driven by higher oil and natural gas prices during the period.
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PETROCHINA CO LTD-H posted a 21.6% year-on-year increase in third-quarter net profit to 51.84 billion yuan ($7.78B), per an exchange filing on Wednesday morning. The July-September result compares with 42.29 billion yuan reported for the same period a year earlier. Higher prices for Natural Gas and crude products bolstered earnings despite lower overall output volumes in China.
