PetroChina H1 net profit jumps 22%, boosted by fuel sales, oil price spike
BEIJING: China’s largest oil and gas company, PetroChina , reported on Sunday a 22% jump in first-half net profit, as higher oil prices and stronger fuel sales boosted earnings. Net profit attributable to shareholders came in at 103.94 billion yuan ($14.65 billion), compared with 84 billion yuan a year earlier, while revenue rose 5.3% to 1.5 trillion yuan, showed a filing with the Hong Kong Stock Exchange. PetroChina, one of China’s biggest refiners, processed 693 million barrels of crude oil during the first half, up 3% from a year earlier and equivalent to 3.83 million barrels per day. Total sales of gasoline, kerosene and diesel rose 2.1% to 81.38 million metric tons. Gasoline sales rose 1.4%, diesel sales rose 0.8%, and aviation fuel sales increased 8.9% to 10.12 million tons. Chinese investors gear up for huge PetroChina debut “Domestic demand for refined oil products maintained steady growth, particularly driven by aviation transport recovery and seasonal travel,” the company said. Natural gas sales rose 6.8% to 157.19 billion cubic metres, with domestic sales up 5.4% at 114.88 bcm. Crude oil output rose 0.8% year on year to 478.4 million barrels, or 2.64 million barrels per
PetroChina H1 net profit jumps 22%, boosted by fuel sales, oil price spike
BEIJING: China’s largest oil and gas company, PetroChina , reported on Sunday a 22% jump in first-half net profit, as higher oil prices and stronger fuel sales boosted earnings. Net profit attributable to shareholders came in at 103.94 billion yuan ($14.65 billion), compared with 84 billion yuan a year earlier, while revenue rose 5.3% to 1.5 trillion yuan, showed a filing with the Hong Kong Stock Exchange. PetroChina, one of China’s biggest refiners, processed 693 million barrels of crude oil during the first half, up 3% from a year earlier and equivalent to 3.83 million barrels per day. Total sales of gasoline, kerosene and diesel rose 2.1% to 81.38 million metric tons. Gasoline sales rose 1.4%, diesel sales rose 0.8%, and aviation fuel sales increased 8.9% to 10.12 million tons. Chinese investors gear up for huge PetroChina debut “Domestic demand for refined oil products maintained steady growth, particularly driven by aviation transport recovery and seasonal travel,” the company said. Natural gas sales rose 6.8% to 157.19 billion cubic metres, with domestic sales up 5.4% at 114.88 bcm. Crude oil output rose 0.8% year on year to 478.4 million barrels, or 2.64 million barrels per
