Petrochina Achieved Good Results: First-half Report

PetroChina, the Chinese largest oil and gas producer, announced that its total oil and gas output rose 2.7 per cent year-on-year to 456.7 million barrels of oil equivalent in the first half of this year.
PetroChina's oil output rose slightly by 0.5 per cent to 388.3 million barrels in the first half of the year, while gas production jumped 17.4 per cent to 410.3 billion cubic feet. The company sold oil at US$29.76 per barrel in the first half, representing a 5.98 per cent year-on-year increase.
So, its production is better than expected, as most analysts had been anticipating PetroChina's oil production would fall as its largest oilfield Daqing is cutting output after decades of exploitation.
PetroChina shares rose on the Hong Kong stock market yesterday, they inched up 0.69 per cent to HK$3.68 (47.2 US cents).