PetroChina profit up 4 percent as gas sales riseAugust 28, 2014 @ 4:40 am
BEIJING (AP) -- State-owned PetroChina, East Asia's biggest oil producer, said Thursday its first-half profit rose 4 percent as sales of gasoline and natural gas increased.
PetroChina Ltd. earned 68.1 billion yuan ($11.2 billion), or 0.37 yuan (6 U.S. cents) per share, in the six months ended June 30. Revenue rose 4.8 percent to 1.1 trillion yuan ($180 billion).
Gasoline consumption rose 1.3 percent by volume but sales rose 9.7 percent after increases in state-set prices. Natural gas sales rose 8.9 percent after an increase in prices.
PetroChina's parent company, China National Petroleum Corp., has been embroiled in a corruption scandal. Its former head, Zhou Yongkang, and other present and former executives are under investigation.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
'Intentional & Dishonest'
Jason Rantz wants to know why SDOT minimizing the number of drivers coming into Seattle
Dam Difficult Decision
November is the wettest month & that means flooding could be just days or weeks away
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.