PetroChina Bulks Up Gas Storage as Oil Profits Slide ...Middle East

OILPRICE - Economy
PetroChina Bulks Up Gas Storage as Oil Profits Slide
source : OILPRICE ( Middle East ) () 145
PetroChina has agreed to buy three natural gas storage facilities from its state-owned parent CNPC for ¥40 billion (US$5.59 billion), adding nearly 11 billion cubic meters of working capacity to its portfolio. It’s a deal that looks less like housekeeping between affiliates and more like a signal of where China’s biggest oil and gas firm sees the energy market heading. The company’s timing is no accident. PetroChina reported first-half 2025 profit of US$11.75 billion, down 5.4% year-on-year as weaker crude prices and slumping…

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