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PetroChina's first-half net profit jumps 22% to $15.4 billion as higher oil prices offset Iran war supply disruptions
PetroChina, China’s largest oil and gas producer, reported on Monday a 22% jump in first-half net profit to 103.9 billion yuan ($15.4 billion) for the six months ended June. The company is gradually restoring operations at its Middle Eastern projects after the US-Israeli war in Iran severely disrupted global energy flows this year. Higher crude oil prices boosted earnings from its upstream operations, while natural-gas operations offset weaker oil production.
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