PetroChina Third-Quarter Profit Surges

Features Dow Jones Newswires

Chinese oil major PetroChina Co. (0857.HK, PTR) on Monday posted a 291% jump its third-quarter net profit, partly due to higher crude oil prices and stringent cost control.

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The Chinese state-controlled oil-and-gas giant said its net profit for the three months ended September surged to 4.69 billion yuan (US$705 million) from CNY1.2 billion a year earlier, while third quarter revenue rose 17% to CNY481.80 billion.

For the nine months ended September, PetroChina's net profit jumped to CNY17.37 billion from CNY1.73 billion a year earlier.

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

(END) Dow Jones Newswires

October 30, 2017 10:25 ET (14:25 GMT)