PetroChina’s net profit slumps on low oil prices
The company’s debt is reported at CNY1.05 trillion ($162.8 billion) while its debt ratio fell to 43.8% from 45.2% a year earlier. Total debts fell by 3.5% last year.
PetroChina reported that they are planning to lower capital spending by 23% or CNY155.7 billion.
The company also cut costs by 26.7% in operating activities to CNY261.31 billion and 25.8% in investment activities.
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