PetroChina Reports Q1 Revenue Drop to CNY753.11B

PetroChina reported a rise in first-quarter profits, with net income increasing by 2.3% to 46.8 billion yuan, as higher oil and gas output offset the impact of lower oil prices. The company boosted crude oil production by 0.2% and gas volumes by 1.2% during the quarter. Analysts anticipated PetroChina would post earnings of $0.02 per share and revenue of approximately $820 billion for this period. The company remains a major player in oil, gas, and related energy sectors, operating both in China and internationally. Shares of PetroChina have experienced fluctuations but remain within their annual trading range. Overall, the company's performance reflects resilience amid volatile commodity prices.