China’s Top Oil Companies Turn in Mixed Results Amid Weak Demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 29 2024
0mins
Source: WSJ
PetroChina's Financial Performance: PetroChina reported a 5.3% decline in net profit to 43.91 billion yuan ($6.16 billion) and a 12% drop in revenue to 702.41 billion yuan for the third quarter.
Market Conditions: The results reflect slower demand and weaker crude prices impacting China's oil industry, as indicated by mixed performances among the country's major oil companies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
