PetroChina reports 10.9% revenue growth and 4.7% net profit increase in Q1 2024, driven by output growth and cost control.
PetroChina, China's largest energy company, reported strong Q1 2024 results with revenue increasing 10.9% YoY to RMB 812.18 billion, and net profit rising 4.7% YoY to RMB 45.68 billion. Factors contributing to the growth include steady growth in oil and gas output, boosting reserves and output, and cost control and competitiveness. The company's oil and gas production experienced a 2.6% YoY growth to 464 million BOE, with increases in both crude oil and natural gas production.
April 28, 2024
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