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PetroChina's Q3 net profit up 21.6% on year

By Reuters News

Oct 28 (Reuters) - Asia's largest oil and gas producer, PetroChina 601857.SS, reported a 21.6% year-on-year increase third-quarter net profit, driven by higher oil and gas prices, according to a stock filing on Wednesday.

  • Net income for the July-September period totalled 51.84 billion yuan ($7.78 billion), compared with 42.29 billion yuan a year earlier.

  • Net profit for the first three quarters was up 21.9% year-on-year at 155.78 billion yuan. Revenue grew 7% to 2.32 trillion yuan.

  • In the first nine months, PetroChina produced 698.6 million barrels of crude oil (2.56 million barrels per day), down 2.2% year-on-year, including 590.4 million barrels produced domestically.

  • Refinery throughput during the 9-month period fell 3.7% on year at 1,002.2 million barrels, or 3.67 million bpd.

  • Ethylene output grew 26.4% during the 9-month period at 8.46 million tons.

  • Marketable natural gas output rose 2.3% to 4,069.4 billion cubic feet during the period, including 3,947.2 billion cubic feet produced in China.

  • Domestic natural gas sales rose 1% at 178.7 billion cubic meters

  • Sales of gasoline, diesel and jet fuel combined were down 5.1% on the year at 114.66 million tons. These included 84.52 million tons sold domestically, which was down 5.7%.

  • Domestic diesel sales fell 8.2% and gasoline down 4.3%. Aviation fuel edged up 1.1%.

  • Nine-month capital expenditure totalled 159.4 billion yuan, compared with 177.5 billion yuan a year earlier.

($1 = 6.6666 Chinese yuan renminbi)

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