Product
Supplier
Encyclopedia
Inquiry
Home > News > Valuable News > PetroChina posts 22% drop in revenue

PetroChina posts 22% drop in revenue

2020-09-01

PetroChina, China's largest oil and gas producer, reported a revenue of more than 929 billion yuan ($135.1 billion) in the first half of this year, down 22.3 percent year-on-year, according to its financial report filed with the Hong Kong Exchanges and Clearing Limited on Thursday.

 
The oil giant generated a net loss of 29.98 billion yuan, down 205.5 percent year-on-year, compared with net profit of 28.42 billion yuan during the previous year, it said.
 
The company cited the plummeting oil price and demand slump amid the COVID-19 outbreak for the drop in revenue.
 
Looking ahead, the Chinese oil major said there is great uncertainty over a rebound in global oil prices. However, with the domestic economy gradually recovering, the demand for oil and gas will slowly become steady and the company will strive to meet annual production and operation objectives, it said.

Disclaimer: ECHEMI reserves the right of final explanation and revision for all the information.

Looking for chemical products? Let suppliers reach out to you!

Comment
Comment

Trade Alert

Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)

Scan the QR Code to Share

Feedback & Suggestions
Send Message

Thank you for your feedback. If you require further assistance, please contact us by email at info@echemi.com or call us at +86-532-55729510.