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PetroChina’s chemicals business loss widens

4:37 AM MDT | April 25, 2014 | Deepti Ramesh

PetroChina’s refining and chemicals business reports an operating loss of 2.21 billion renminbi ($354 million) in the first quarter of 2014 compared with an operating loss of Rmb4.74 billion in the first quarter of 2013. PetroChina’s chemicals business alone had an operating loss of about Rmb4.17 billion in the first quarter of 2014 compared with an operating loss of Rmb3.18 billion in the year-ago period mainly because of the weak market for chemicals, the company says. The refining business had an operating profit of about Rmb1.95 billion in the...

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