PetroChina's Profits Reach Record High Amid Surge in Gas Demand

PetroChina Co. announced an annual profit increase to a record high, attributed to a resurgence in natural gas demand, which helped counter the effects of declining oil prices. The Chinese energy giant revealed a net income rise to 161 billion yuan ($22 billion) last year, as reported in their recent exchange filing. This surpasses the 2022 profits of 149 billion yuan, marking a significant achievement for the company.