Aug 30 (Reuters) – China’s largest oil and gas company, PetroChina, reported on Sunday a 22% jump in first-half net profit, as higher oil prices and stronger fuel sales boosted earnings.
- H1 net profit attributable to shareholders rises 22% to 103.94 billion yuan ($14.65 billion) from 84 billion yuan a year earlier.
- Revenue up 5.3% at 1.5 trillion yuan.
- Crude processing falls 5.6% year-on-year to 655.3 million barrels.
- Total gasoline, kerosene and diesel sales down 8.8% to 54.3 million metric tons.
- Gasoline sales fall 8.6%; diesel sales down 7.6%; aviation fuel sales drop 12.5%.
- Natural gas sales rise 3.9% to 161.22 billion cubic metres; domestic gas sales up 1.1%.
- Crude oil output falls 2.8% to 462.9 million barrels, while domestic natural gas production rises 2.4%; overseas gas production up 1.1%.
- Chemical products output increases 6.7% to 21.318 million tons, while new-materials output jumps 61.4% to 2.688 million tons.
- PetroChina says elevated oil prices linked to Middle East tensions accelerated adoption of alternative energy and weighed on gasoline and diesel consumption in China.
- Says domestic refined fuel demand will continue to face pressure from alternative energy and high oil prices, while natural gas demand is expected to recover steadily
- Hong Kong-listed shares have gained 21.60% this year to date, versus a 0.18% decline in the Hang Seng Index.
Brazil Energy Insight 
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