PetroChina’s chemicals business swings to loss

PetroChina’s refining and chemicals business reported an operating loss of 37.39 billion renminbi ($6 billion) for the first 9 months of 2012, compared with an operating loss of Rmb38.4 billion in the year-ago period. PetroChina’s chemicals business alone registered an operating loss of about Rmb7.38 billion in the first nine months of 2012, and the refining business recorded an operating loss of about Rmb30 billion. PetroChina’s chemicals business posted an operating profit of Rmb3.13 billion in the first 9 months of 2011. The loss in the...

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