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PetroChina profit dives 70% in 2015 on low oil prices
[BEIJING] PetroChina, China's biggest oil and gas producer, reported a 70 per cent slump in its full-year 2015 profit, with earnings upstream and in the marketing segment both taking a hit from lower prices.
Net profit declined to 35.52 billion yuan (S$7.47 billion) last year, from 107.17 billion yuan in 2014, the state-controlled company said on Wednesday in a filing with the Hong Kong bourse.
Last March, PetroChina reported a 17 per cent drop in net profit for 2014.