PetroChina’s Chemicals Business Swings to Loss

PetroChina’s refining and chemicals business segment recorded an operating loss of Rmb28.87 billion ($4.5 million) in the first half of 2012, compared with an operating loss of Rmb20.9 billion in the first half of 2011. PetroChina’s chemicals business, alone, registered an operating loss of Rmb5.56 billion in the first half of 2012, and the refining business recorded an operating loss of Rmb23.3 billion. PetroChina’s chemicals business recorded an operating profit of Rmb2.36 billion in the first half of 2011. These losses were the result of...

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