PetroChina's first half earnings hit by higher costs

PetroChina Co Ltd., the world’s No. 2 oil producer by market value, posted a mere 1.4% increase in first-half earnings due to lower crude oil prices and climbing costs. PetroChina said its January-June net profit was 81.83 billion yuan (US$10.6 billion) versus 80.68 billion yuan (US$10.48 billion) a year earlier. (August 23, 2007)