PetroChina’s first half profit up by 29.4%

PetroChina, China’s largest oil and gas producer, said that its first half profit jumped 29.4% year-on-year because of high crude oil prices and rising oil and gas output. In the first half, PetroChina’s net profit totaled 65.33 billion yuan (US$9.6 billion). Turnover rose almost 65% to 684.8 billion yuan (US$100.6 billion). (August 27, 2010)