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 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
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
