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PetroChina (PTR) reports a 13% Y/Y decline in 2012 net profit despite increased production, hit...

PetroChina (PTR) reports a 13% Y/Y decline in 2012 net profit despite increased production, hit by a slowdown in the growth rate of the Chinese economy. Revenue rose 9.6% to 2.2T yuan due to increases in selling prices of oil products. Produced 1.3M boe of crude oil and natural gas, 4.5% more than in 2011. Says it will continue to speed up overseas acquisitions.
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