FX.co ★ PetroChina Q1 Net Profit Rises - Quick Facts

PetroChina Company (PTR) has recently disclosed a noteworthy increase in their annual profit and revenue, aligning to the standards of IFRS. An appreciable 4.7% yearly rise observed in the net profit attributable to company owners, amounting to RMB 45.68 billion. Concurrently, the company saw its revenue spike by 10.9% annually, reaching a sum of RMB 812.18 billion.

In terms of production, the first quarter exhibited a 2.6% annual growth in the company's oil and gas output, amassing a total of 464 million BOE. This included an increase of 1.4% year over year to 240 million barrels in their crude oil output, and a 3.9% upward trend annually, amounting to 1.34 trillion cubic feet in the marketable natural gas output. In addition, the first quarter witnessed PetroChina processing a total of 354 million barrels of crude oil, an augmented figure by 8.2% in comparison to the previous year.

Finally, regarding sales, PetroChina sold a total of about 39.258 million tons of refined products in the first quarter, showing a 4.5% rise year-on-year. Of this, approximately 28.545 million tons of refined products were sold within the domestic market, marking an annual increase of 4.6%.