A PetroChina receiving terminal in China’s Jiangsu province. Despite its bullishness about the gas market, the company aims to only raise gas output by 3.2 per cent this year. Photo: Reuters A PetroChina receiving terminal in China’s Jiangsu province. Despite its bullishness about the gas market, the company aims to only raise gas output by 3.2 per cent this year. Photo: Reuters
A PetroChina receiving terminal in China’s Jiangsu province. Despite its bullishness about the gas market, the company aims to only raise gas output by 3.2 per cent this year. Photo: Reuters
PetroChina

PetroChina reveals 58 per cent decline in profit, to shift focus to natural gas with oil demand set to fall amid country’s decarbonisation drive

  • Company says net profit for last year amounted to 19 billion yuan (US$2.9 billion), down 58.4 per cent from 2019
  • ‘We see the demand for cleaner burning natural gas continuing to rise,’ says president

Topic |   PetroChina
A PetroChina receiving terminal in China’s Jiangsu province. Despite its bullishness about the gas market, the company aims to only raise gas output by 3.2 per cent this year. Photo: Reuters A PetroChina receiving terminal in China’s Jiangsu province. Despite its bullishness about the gas market, the company aims to only raise gas output by 3.2 per cent this year. Photo: Reuters
A PetroChina receiving terminal in China’s Jiangsu province. Despite its bullishness about the gas market, the company aims to only raise gas output by 3.2 per cent this year. Photo: Reuters
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