State-run PetroChina, Asia’s largest oil and gas producer and China’s second-largest refiner, is reporting $16.66 billion in profits from January to September, for a 60% jump year-on-year, Reuters reports. The significant jump in profits comes despite zero-COVID policies that have chipped away at domestic demand for fuel, according to PetroChina.
Despite pandemic lockdowns across the nations, PetroChina saw its domestic crude oil output rise by 2.7% and its domestic gas output rise by 5.1% from January to September. …PetroChina Records 60% Profit Jump Despite Lower Demand
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