PetroChina Company Limited (PetroChina), China's largest oil and gas producer, said Thursday that its net profit rose 5.8 percent year on year in the first quarter.
The company's net profit totaled 39.15 billion yuan ($6.23 billion) in the first three months and earnings per share gained 5.8 percent to 0.21 yuan based on international financial reporting standards (IFRS), the company said in a statement filed with the Shanghai and Hong Kong stock exchanges.
The statement said PetroChina concentrated on its main businesses amid changing economic landscapes both at home and abroad.
The output of crude oil and natural gas rose 3.6 percent and 11.2 percent year on year, respectively, in the first quarter, according to the statement.
Meanwhile, the company processed 257.1 million barrels of crude oil during the period, up 2.8 percent from a year earlier.
Due to high-flying international oil prices, the company reported 10.82 billion yuan in losses in its refining and chemical business areas, marking a slight improvement from the fourth quarter last year as China raised fuel prices two times in the first quarter.
The company sold 36.5 million tons of gasoline, diesel and kerosene during the period, an increase of 15.5 percent from a year earlier.
PetroChina is the Hong Kong- and Shanghai-listed subsidiary of the China National Petroleum Corporation.
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