PetroChina Q1 Profit Rises, Bucking the Trend of Chinese Oil Majors ...Middle East

PetroChina, the largest oil and gas producer in China, reported on Tuesday a net profit for the first quarter up by 2.3%, becoming the only state oil giant to book higher Q1 earnings compared to a year earlier. PetroChina booked a net profit of $6.4 billion (46.8 billion Chinese yuan) for the first quarter, up by 2.3% from the same period of 2024. The company’s average realized price for crude oil was $70.00 per barrel in the first quarter, down by 7.2% compared with $75.41 per barrel for the same period of last year. The average selling…

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