UPDATE: PetroChina Posts Rise In Profit

PetroChina Co

reported a 15% gain in its profit for the second quarter. The company's quarterly net profit surged to 33.9 billion yuan ($5.5 billion), versus a year-ago profit of 29.5 billion yuan. However, analysts were expecting a profit of 33.2 billion yuan. For the six months ended 30 June 2014, PetroChina's turnover rose 4.8% to RMB1,153.968 billion under the IFRS. Its net profit gained 4% to RMB68.124 billion, while basic earnings per share increased to RMB0.37. In the first half of 2014, PetroChina's profit from operations of the exploration and production segment rose 3.5% to RMB102.238 billion, while the Refining and Chemicals segment posted a loss from operations of RMB3.435 billion, versus a year-ago loss of RMB12.426 billion. The Natural Gas and Pipeline segment posted profit from operations ofRMB4.083 billion in the same period. PetroChina shares rose 0.25% to close at $145.34 yesterday.