PetroChina posts record earnings as demand lifts

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Canada News News

The nation’s top oil and gas driller benefited from soaring global energy prices

A PetroChina Co. gas station in Beijing, China on Friday, August 19 2022. Picture: BLOOMBERG

Global crude prices averaged $105 a barrel in the first six months, 62% higher than in 2021, providing a windfall to producers after several years of depressed prices. PetroChina has invested heavily in maintaining steady oil production while boosting gas output to match the country’s goal of tapping into cleaner fuels.

In that vein, executives told the briefing they expect refined oil product demand to rise 1.6% on the year to 180-million tonnes, while gas consumption should increase 5.5%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA

Canada Canada Latest News, Canada Canada Headlines