PetroChina Profit Falls as Oil Prices and Fuel Demand Dip ...Middle East

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PetroChina Profit Falls as Oil Prices and Fuel Demand Dip
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PetroChina, the largest oil and gas producer in China, reported on Tuesday a 5.4% decline in first-half profit as oil prices fell from a year earlier and domestic fuel demand continued to be pressured by the rise in new-energy vehicle sales.  PetroChina booked $11.75 billion (84 billion Chinese yuan) in profit for the first half of the year, down by 5.4% from the record-high profit for same period last year.  Amid lower benchmark oil prices, PetroChina’s average realized crude oil price was $66.21 per barrel between January and…

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