PetroChina's 1Q Net Profit Up 1%
Chinese state PetroChina’s net profit during the quarter that ended March 31 (1Q2019) was yuan 10.25bn ($1.5bn), up 1% year-on-year, it said April 29.
During the quarter company’s revenue was yuan 591bn, up 9% on the same quarter of the previous year.
Crude oil output was 223.4mn barrels, representing an increase of 4.6% over the same period of last year. Marketable natural gas output amounted to 999.9bn ft3, up 8.9% year-on-year.
Operating profit of the natural gas and pipeline segment amounted to yuan 12.58bn, up 12.5% over the same period of last year, PetroChina said, adding that the increase was due to rise in the price and sales of natural gas.