Chinese energy giant PetroChina Co. Ltd. announced first-half 2019 earnings of RMB 28.4 billion or RMB 0.155 per diluted share compared with RMB 27.4 billion or RMB 0.150 per diluted share a year earlier.
One of China’s big three oil giants, the other two being Sinopec and CNOOC Limited (CEO - Free Report) , PetroChina’s total revenue for the half year rose 6.8% from the year-ago period to RMB 1,196.3 billion.
The positive comparisons can be primarily attributable to higher oil and gas production and drop in lifting costs, which helped its exploration and production unit profit surge 79.4%. This was partly offset by weaker downstream earnings.
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Chinese energy giant PetroChina Co. Ltd. announced first-half 2019 earnings of RMB 28.4 billion or RMB 0.155 per diluted share compared with RMB 27.4 billion or RMB 0.150 per diluted share a year earlier.
One of China’s big three oil giants, the other two being Sinopec and CNOOC Limited (CEO - Free Report) , PetroChina’s total revenue for the half year rose 6.8% from the year-ago period to RMB 1,196.3 billion.
The positive comparisons can be primarily attributable to higher oil and gas production and drop in lifting costs, which helped its exploration and production unit profit surge 79.4%. This was partly offset by weaker downstream earnings.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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