{"id":8500,"date":"2020-12-15T07:42:31","date_gmt":"2020-12-15T05:42:31","guid":{"rendered":"https:\/\/sijoitusrahastot.org\/?p=8500"},"modified":"2020-12-15T07:42:34","modified_gmt":"2020-12-15T05:42:34","slug":"petrochina-profit-declines-by-73-yoy-from-q1-to-q3-2020","status":"publish","type":"post","link":"https:\/\/sijoitusrahastot.org\/petrochina-profit-declines-by-73-yoy-from-q1-to-q3-2020\/","title":{"rendered":"PetroChina Profit Declines by 73% YoY from Q1 to Q3 2020"},"content":{"rendered":"\n
Thanks to recovering oil prices, Asia\u2019s leading oil and gas producer PetroChina had a blockbuster Q3 2020. The oil giant had a 350% surge in profit during the three-month period.<\/p>\n\n\n\n
Net income for the period was 40.05 billion yuan ($6 billion), up from 8.86 billion yuan in Q3 2019. It was a remarkable change from Q2 2020 when it reported a loss of 13.75 billion yuan as a result of plummeting oil prices.<\/p>\n\n\n\n
However, according to the research data analyzed and published by the Finnish website Sijoitusrahastot<\/a>, for the first nine months of 2020, its profit fell by a massive 73% year-over-year (YoY) to 10.07 billion yuan. The company processed a total of 877.73 million barrels of crude oil in the period. That was a decline of 3.2% from a similar period in 2019.<\/p>\n\n\n\n