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PetroChina H1 net profit down 34.5%

(Xinhua)
Updated: 2008-08-27 19:51

BEIJING - PetroChina Company Limited reported Wednesday that its first-half net profit slid 34.5 percent year-on-year, reduced by below-cost fuel prices and windfall taxes.

Net profit totaled 53.62 billion yuan (US$7.84 billion) in the first half, while earnings per share fell by 0.17 yuan per share to 0.29 yuan, the company said in a statement to the Shanghai Stock Exchange on Wednesday afternoon.

PetroChina is the Hong Kong and Shanghai-listed subsidiary of China National Petroleum Corporation, China's largest oil producer.