PetroChina Q2 Profit Down 21%

PetroChina Company Limited

posted a 21% drop in its second-quarter earnings. PetroChina's quarterly net profit declined to 22.83 billion yuan ($3.59 billion), versus 29 billion yuan, in the year-ago period. However, analysts were expecting a net profit of 26.73 billion yuan. PetroChina shares fell 1.24% to close at $124.28 yesterday.