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PetroChina (PTR) posts a 33% Y/Y plunge in quarterly profit, underperforming expectations even...

PetroChina (PTR) posts a 33% Y/Y plunge in quarterly profit, underperforming expectations even as revenue rose on higher crude oil output; nine-month profit fell 15.9% Y/Y. PTR attributes the falls to the weak global economy and lower Chinese gas prices among other factors. PTR produced 997M boe in the first nine months of 2012, a 3.9% increase Y/Y, with oil up 2% and natural gas up 8.3%.
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