PetroChina profit down 82 percent on low oil price

April 28, 2015 6:33 AM

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State-owned PetroChina Ltd., Asia's biggest oil and gas producer, says its quarterly profit declined 82 percent from a year earlier due to a sharp decline in oil prices.

The Beijing-based company said it earned 6.2 billion yuan ($989 million), or 0.03 yuan (0.5 cents) per share in the three months ended March 31. Total revenue fell 22 percent to 410.3 billion yuan ($65.9 billion).

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