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PetroChina Net Profit Up 12.1% in Q1

Chinese oil giant PetroChina reported a 12.1 percent year-on-year increase in its net profit in the first quarter.

Net profit attributable to the parent company reached 43.62 billion yuan (about 6.3 billion USD) in the first three months, the company said in a statement filed with the Shanghai Stock Exchange, China’s News Agency (Xinhua) reported.

The company’s business revenue fell 6 percent to 732.47 billion yuan in the reporting period, it said.

Source: Qatar News Agency

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