By Ronnie Harui


PetroChina Co.'s net profit jumped 41% in the first quarter of 2022 from a year earlier, mainly thanks to the increases in prices of oil-and-gas products and sales volumes, as well as the group's increased efforts to improve quality and profitability.

Net profit climbed to 39.060 billion yuan ($5.89 billion) in the first quarter from CNY27.721 billion for the same period a year earlier, the Chinese energy company said in a Hong Kong exchange filing on Friday.

Revenue rose to CNY779.368 billion from CNY551.923 billion, it said.

In the first quarter, PetroChina said it had an average realized price for crude oil of $86.29 a barrel, up 55% from a year earlier. The domestic realized price was $86.55 a barrel, 56%.

The company didn't provide any outlook.


Write to Ronnie Harui at ronnie.harui@wsj.com


(END) Dow Jones Newswires

04-29-22 0520ET