Singapore-Chinese integrated oil giant PetroChina August 26 reported net profit of Yuan 65.33 billion ($9.6 billion) for the first half of 2010, up 29.4% year on year, driven by higher sales volume and selling prices, which offset the sharp rise in the company’s operating expenses. PetroChina’s revenues for the six months rose 65% year on year to Yuan 684.8 billion and operating expenses jumped 70.6% to Yuan 595.86 billion, led by a rise in the cost of procuring crude oil and other feedstocks, the company said.
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