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PetroChina profit tripled-Net income jumped over 3 billion USD category
March 23, 2018
Source: World Oil

PetroChina profit tripled-Net income jumped over 3 billion USD

PetroChina’s net income jumped to $3.6 billion in 2017 as earnings from E&P overcame asset write-downs and losses from importing natural gas. Analysts are of the view that profit could have been very impressive if not for the large asset write-downs. Efficiency remains an issue, as total production has fallen even as spending exceeded the budget it set at the beginning of last year.

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