China’s Price Control on Refined Oil Cuts Into PetroChina’s Profits, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) — PetroChina (NYSE:PTR) (Beijing), one of China’s top three refiners, has reported a loss of $8.62 billion ($1 = 6.84 RMB) in its oil refining and sales department for the first six months of this year, according to statistics released August 27. The company posted a $574.29 million profit in the same period last year in the same department.
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SOURCE: Industrial Info Resources