Petrochina posts 5.8% increase in net profits in first quarter

PetroChina Company released its quarterly results which showed that it earned CNY 39.15 billion (US$6.16 million) in net profit in the first quarter this year, a 5.8% increase over the same period last year. The company posted operating revenue of CNY 525.65 billion (US$82.8 million), a 17.86% increase year-on-year. During the first quarter, PetroChina processed 257.1 million barrels of crude oil, a 2.8% increase from a year ago. (April 27, 2012)