Oil Giants Profit 146b Yuan in First Half

The first-half net profit of the three leading oil companies in China - PetroChina, Sinopec and CNOOC Ltd. - totaled 146 billion yuan, averaging at 800 million yuan a day. PetroChina＇s profit falls below estimate The net income of PetroChina in the first six months rose 1 percent to 66 billion yuan, missing analysts＇estimates. PetroChina＇s refining business swung to a loss of 23.4 billion yuan from a profit of 3 billion yuan a year earlier, as the cost of processing crude into fuels climbed 3.1 percent to 138.75 yuan a ton.