PetroChina’s net income increases in Q1
by ChemOrbis Editorial Team - content@chemorbis.com
According to media sources, PetroChina reported a net income of 45.68 billion yuan ($6.3 billion) in the first quarter of 2024, up by 4.7% from 43.6 billion yuan ($6 billion) reported in the same period last year. The increase was attributed to rising natural gas and fuel demand.
The company’s revenue rose by 10.9% to 812 billion yuan ($112 billion) in Q1.
PetroChina sold a total of 39.258 million tons of refined products in the first quarter, up by 4.5% from a year earlier. The company’s overall oil and gas production increased by 2.6% year-on-year.
Meanwhile, operating profit in the refining, chemicals, and new materials segment declined by 4.2% due to lower profit margins of refined petroleum products, the company reportedly said.
The company’s revenue rose by 10.9% to 812 billion yuan ($112 billion) in Q1.
PetroChina sold a total of 39.258 million tons of refined products in the first quarter, up by 4.5% from a year earlier. The company’s overall oil and gas production increased by 2.6% year-on-year.
Meanwhile, operating profit in the refining, chemicals, and new materials segment declined by 4.2% due to lower profit margins of refined petroleum products, the company reportedly said.
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