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

By Chester YungFeaturesDow Jones Newswires

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.

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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."

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(END) Dow Jones Newswires

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