PetroChina, China's biggest oil and gas producer, reported a 68.1 percent drop in net earnings for the first nine months of the year, as oil prices fell.
The company's average realized oil price declined by 48.8 percent to $51.16 a barrel.
Nine-month net profit was 30.6 billion yuan ($4.81 billion), down from 96.0 billion in the year-earlier period, the State-controlled company said on Thursday in a filing with the Shanghai stock market.
Net profit for July-September declined 81.4 percent to 5.2 billion yuan from 27.9 billion yuan a year earlier.
Operating profit at the exploration and production segment fell 68.1 percent in the first nine months to 46.5 billion yuan, while crude output rose 3.3 percent on year to 722.9 million barrels.
