PetroChina Posts Records in Q1      

On April 28th, PetroChina Company Limited (PetroChina, HK: 0857; NYSE symbol PTR; SH: 601857) announced the turnover reached RMB 259.048 billion in the first quarter of 2008, a year-on-year increase of 41.9%, based on the International Financial Reporting Standards (IFRS). The net profit attributable to its shareholders was RMB28.885 billion, down 31.5% year-on-year, for an increasing special levy, surging prices of imported crude oil and raw materials.
   The output of crude oil reached 216 million barrels, up 3.3% year-on-year. The output of marketable natural gas reached 484.7 billion cubic feet, up 18% year-on-year.
    PetroChina processed 217 million barrels of crude oil, up 7.4% year-on-year. The company produced 6.311 million tons of gasoline, 0.529 million tons of kerosene and 12.084 million tons of diesel.
   Because of the distortion between high crude oil prices abroad and government-controlled low oil products prices at home, the company's refining business suffer a big loss in the first quarter of 2008. PetroChina's source said.
   PetroChina produced 709 thousand tons of ethylene, up 9.2%; 1.078 million tons of synthetic resin, up 6.6%; 439 thousand tons of synthetic fiber raw materials and polymer, up 32.2%; 82 thousand tons of synthetic rubber, up 3.8% and 1.02 million tons to urea, up 3.3%.