Crude price recovery lifts PetroChina

Robust earnings surge for oil giants likely to continue in the fourth quarter

The mainland's largest oil and gas producer China National Petroleum Corp, or PetroChina, reported a 290 percent rise in third-quarter net profit as the company reaped the rewards of a strong rebound in crude prices and deleveraging.

With the other two mainland oil majors - CNOOC and Sinopec - also reporting higher third-quarter numbers, industry analysts expected the strong rebound to continue in the fourth quarter of the year also.