A Review of the Nigerian Energy Industry

PetroChina profit climbs

PetroChina-joins-worlds-top-5-energy-ranks22 August 2013, News Wires – PetroChina posted a rise in profit in the first half of the year as sales volumes and the realised natural gas price increased.

Profit for the six months to the end of June was 72.56 billion Chinese yuan ($11.85 billion) as against 69.83 billion yuan.

Revenues rose from 1.05 trillion yuan to 1.1 trillion yuan with expenses up but operating profit still ahead.

PetroChina reported a rise in sales volumes for all of crude oil, natural gas, gasoline and diesel with gas prices also boosting the bottom line.

China’s total oil output was also up 3.2% in the period, the state-owned company added.

– Upstream

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