PetroChina Co. (PTR), the largest listed Chinese oil firm by capacity, said Wednesday its first-quarter net profit rose 14% from a year earlier on increased output and higher crude oil prices.
PetroChina Co. (PTR), the largest listed Chinese oil firm by capacity,
said Wednesday its first-quarter net profit rose 14% from a year earlier on
increased output and higher crude oil prices.
Net profit for the three months ended March 31 totaled CNY37.0 billion, up from
CNY32.5 billion in the same period a year earlier.
Revenue rose 40% to CNY446.0 billion from CNY318.8 billion .
The company said its crude oil output rose 4.3% to 219.1 million barrels in the
first quarter, and the average selling price of its crude oil jumped 31% to
US$91.85 a barrel.
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