China’s Top Oil Companies Turn in Mixed Results Amid Weak Demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 29 2024
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Should l Buy ?
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.
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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.
