PetroChina Profit Dives 63% in First Half

Reuters

BEIJING, Aug 27 (Reuters) - PetroChina , China's biggest oil and gas producer, reported a 63 percent drop in its first-half profit, with earnings upstream and in the marketing segment both taking a hit from lower prices.

Net profit declined to 25.4 billion yuan ($3.97 billion) in the first six months of 2015, from 68.1 billion yuan a year ago, the state-controlled company said on Thursday in a filing with the Hong Kong bourse.

In April, PetroChina reported an 82 percent slump in net profit for the first quarter.

(Reporting by Adam Rose and the Bengaluru Newsroom; Editing by Subhranshu Sahu)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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