Reforms lift PetroChina Q3 profit

PetroChina Co Ltd, the nation's largest oil and natural gas company, said on Tuesday that domestic fuel price reforms helped lift its third-quarter profit by 19 percent to 29.8 billion yuan ($4.9 billion).

Revenue was up 5.5 percent to 581.7 billion yuan, it announced.

The company said that the government's fuel price reforms, carried out earlier this year, allowed fuel prices to be more closely aligned with world markets.