PetroChina Profit Drops on Lower Oil Cost, Weak Fuel Demand
(Bloomberg) — PetroChina Co.’s earnings fell last year, as softer crude oil prices and sluggish fuel demand weighed on profits.
The country’s largest oil and gas producer reported net income of 157.3 billion yuan ($22.8 billion), compared with 164.7 billion yuan in 2024, according to an exchange filing on Sunday. Brent crude averaged about $68 a barrel — 15% lower than the previous year — as global supply outpaced demand.
