PetroChina Profit Falls as Oil Prices and Fuel Demand Dip

PetroChina Profit Falls as Oil Prices and Fuel Demand Dip

PetroChina, the largest oil and gas producer in China, reported on Tuesday a 5.4% decline in first-half profit as oil prices fell from a year earlier and domestic fuel demand continued to be pressured by the rise in new-energy vehicle sales.  PetroChina booked $11.75 billion (84 billion Chinese yuan) in profit for the first half of the year, down by 5.4% from the record-high profit for same period last year.  Amid lower benchmark oil prices, Pet…

PetroChina Profit Slips From Record After Oil Prices Tumble

PetroChina Co.’s profit fell from a record in the first half as crude prices dropped and domestic oil demand flatlined.

PetroChina Profit Slips From Record

PetroChina Co.'s profit fell from a record in the first half.