PetroChina (PTR.NYSE; 00857.HK; 601857.SH), China's largest oil and gas producer, on Thursday reported a plunge in its third-quarter earnings as low crude oil prices hurt the oil giant's performance. PetroChina's net profits plunge 81.4 percent year on year in the third quarter to 5.2 billion yuan, the company said in a filing with the Hong Kong Stock Exchange.
In the meantime, the company's revenues dropped 28.8 percent year on year to 427.481 billion yuan. In the first nine months of the year, PetroChina's net profits declined 68.1 percent year on year to 30.6 billion yuan and its revenues fell 25.6 percent year on year to 1.305 trillion yuan.
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