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PetroChina reported strong financial results for the first nine months of 2024, with revenue reaching RMB 2.26 trillion and net profit growing 0.7% year-on-year to RMB 132.52 billion. The company's debt-to-asset ratio improved to 39.5%, a 14-year low. Oil and gas equivalent output increased 2.0% to 1.342 billion barrels, with natural gas sales up 8.6% to 209.82 billion cubic meters. The company's new energies and materials business showed significant growth, with new materials production surging 62.6%. Operating profits were notable across segments: oil, gas and new energies (RMB 144.26 billion), refining and chemicals (RMB 15.28 billion), marketing (RMB 12.90 billion), and natural gas sales (RMB 25.27 billion).
PetroChina (HKSE:00857, SSE:601857) reported record-high operating results for the first half of 2024, marking the third consecutive year of record-breaking interim performance. Key highlights include:
Financial Performance:
- Operating income: RMB 1.6 trillion (5% YoY increase)
- Net profit: RMB 88.61 billion (3.9% YoY increase)
- Annualized average return on equity: 10.4%
- Debt-to-asset ratio: 39.4% (1.4 percentage points decrease)
- Debt-to-capital ratio: 11.3% (3.9 percentage points decrease)
- Interim dividend: RMB 0.22 per share (Total payout: RMB 40.26 billion)
Operational Highlights:
- Total production: 123 million tons oil equivalent (1.3% YoY increase)
- Crude oil production: 64.45 million tons
- Marketable natural gas output: 73.18 billion cubic meters
- Processed crude oil: 0.69 billion barrels (3.0% YoY increase)
- Refined products output: 60.12 million tons (2.1% YoY increase)
- Chemical products output: 19.04 million tons (10.2% YoY increase)
- Natural gas sales: 147.22 billion cubic meters (12.9% YoY increase)
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