PetroChina posts RMB 30.85-bln profit for Q3

Oct. 29, 2009 (China Knowledge) - PetroChina Co Ltd<601857><0857><PTR> today announced that it reaped RMB 30.85 billion in the third quarter of this year, according to figures computed on the basis of International Financial Reporting Standards, whereas it realized RMB 40.31 billion in the corresponding period of last year, according to a statement filed with the Shanghai Stock Exchange.

Earnings per share were RMB 0.17 and return on net assets was 3.8%. 

In the period from January to September, the oil giant's net profit grew 14.1% year on year to RMB 81.35 billion from RMB 94.75 billion. Earnings per share were RMB 0.44, falling short of the RMB 0.52 the firm realized in the same period of last year.

PetroChina's total assets grew 19.1% to RMB 1.42 trillion from RMB 1.2 trillion at the end of last year.

The enterprise yielded 631 million barrels of crude oil in the first nine months of this year, 3.7% less than in the same period of last year. Its natural gas output was 1.52 trillion cubic feet, up 11.3%. The average price of crude oil in the third quarter was US$49.06 per barrel, whereas it was US$97.24 per barrel in the same quarter of last year.

Reportedly, China National Petroleum Corp, the parent of PetroChina, today will issue RMB 20 billion in six-month bonds on the interbank market.

Bank of Communications<601328><3328> and Industrial and Commercial Bank of China<601398><1398> have been assigned as major underwriters for the issuance.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA and A-1, respectively.