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'No hope' oil fields spur PetroChina to cut losses and output

Friday, March 25, 2016 - 05:50

Hong Kong

AS oil's collapse leaves some fields with no chance to turn a profit, China's biggest producer is ready to cut its losses.

PetroChina Co sees oil and gas output falling for the first time in 17 years as it shuts high-cost fields that have "no hope" of making profits at

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