PetroChina Expects 1st Half Net Profit Between CNY9 Billion-CNY11 Billion

Chinese oil-and-gas major PetroChina Co. (0857.HK) said late Wednesday it expects first-half net profit of between nine billion and 11 billion yuan ($1.33 billion-$1.63 billion), up from CNY528 million a year earlier.

The company said the expected significant increase was because of higher oil prices.

For the second half of 2017, the company said it expects global oil prices to fluctuate at a "mid-low" level, though "still with uncertainty."

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

July 26, 2017 05:17 ET (09:17 GMT)