Petrochina releases financial reports for Jan-Jun period of 2019
Petrochina released its financial reports for the January-June period of 2019. Revenues and profits rose by 6.8% and 4.9% from the same period last year to 1.2 trillion yuan and 70.663 billion yuan respectively. Net profit increased by 3.6% to 28.423 billion yuan. Earning per stock was at 0.155 yuan, up 0.005 yuan from a year earlier. Gains were attributed to smooth exploration and production of crude oil.
Meanwhile, with its refining and petrochemical business sluggish, profits decreased by 19.724 billion yuan from the same period last year to 4.967 billion yuan. The profit of its sales business was at 1.897 billion yuan, down 2.588 billion yuan on year. In its natural gas and pipeline business, profits rose by 13.6% to 18.32 billion yuan.