Oil firms suffer revenue dip

Lower prices and weak demand take toll on global energy producers

China's oil and gas giants saw their revenues slump in the July-September period, according to their financial reports, against the backdrop of a suppressed global oil and gas market and lower domestic natural gas prices.

The third-quarter reports of China's big three oil firms - China National Petroleum Corp, China National Offshore Oil Corp and China Petrochemical Corp - showed that CNPC's revenue fell by 3.8 percent to 411.4 billion yuan ($60.97 billion), CNOOC by 15.2 percent to 30.75 billion yuan, and Sinopec by 3.1 percent to 472 billion yuan.