PetroChina Reports 22% Rise in First-Half Profit Despite Weaker Fuel Demand
PetroChina reported a 22% increase in first-half profit, driven by higher oil prices and growth in natural gas and chemical operations. The company's net profit attributable to shareholders reached 103.94 billion yuan ($14.65 billion), up from the previous year despite declining refined-fuel sales. The strong performance was attributed to favorable market conditions for crude oil, which helped offset weaker demand in its refining segment. PetroChina’s results highlight resilience amid challenging fuel markets and underscore the company's diversified energy portfolio.
Topics: chemicals business natural gas operations oil prices refined-fuel sales