PetroChina’s first-half profit jumps 22% as higher oil prices offset Iran war supply hit
PetroChina, China’s largest oil and gas producer, has announced that it is gradually restoring operations at its Middle Eastern projects after the US-Israeli war in Iran severely disrupted global energy flows this year.
On Monday, the company reported a 22 per cent jump in first-half net profit to 103.9 billion yuan (US$15.4 billion) for the six months ended June, as higher crude oil prices boosted earnings from its upstream operations while natural-gas operations offset weaker oil production...
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