SUBSCRIBERS
PetroChina slips after warning profit may decline by up to 70%
It sees oil market continuing to be weak this year, seeks to cut costs
Published Mon, Feb 1, 2016 · 09:50 PM
Hong Kong
PETROCHINA CO, the country's biggest oil and gas producer, fell in Hong Kong after saying 2015 profit may have fallen 60 per cent to 70 per cent from a year earlier because of the slump in energy prices.
The stock closed down 3 per cent at HK$4.61, after earlier falling as much as 4.2 per cent. The city's benchmark Hang Seng Index lost 0.5 per cent.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns