PetroChina Posts Record YoY Net Profit Growth

PetroChina has reported record year-on-year net profit growth of 21%, with third-quarter earnings reaching $6.3 billion on increased output and rising domestic fuel demand. The company saw a 4.3% year-on-year increase in crude oil output during the first nine months of this year and a 6.1% increase in natural gas output. While PetroChina realized lower oil and gas prices during the first nine months of this year, higher domestic fuel demand allowed it to increase production and boost net profit.  Total fuel sales increased 13.4%…