Overseas production lifts PetroChina profits

Oil, natural gas output increases as company expands upstream

PetroChina Co Ltd said on Thursday that operating profit grew at a double-digit pace last year as its overseas oil and natural gas output increased and government-controlled domestic energy prices rose.

Operating profit jumped 12.4 percent to 129.6 billion yuan ($20.8 billion), while sales increased 2.9 percent to 2.3 trillion yuan, the Beijing-based energy producer and refiner said in a filing to the Shanghai Stock Exchange.