CORRECTED - CORRECTED-PetroChina posts best profit in 3 qtrs, beats forecast

(Corrects headline, lead paragraph to best, not first, profit in three quarters; Corrects year-ago comparison in paragraph 2 to 25.14 billion yuan from 54.44 billion yuan)

HONG KONG Aug 28 (Reuters) - PetroChina (0857.HK), the world's most valuable oil and gas producer, posted its best profit in three quarters on Friday as higher fuel prices in China offset the steep slide in crude oil prices.

PetroChina's (601857.SS)(PTR.N) net profit was 31.54 billion yuan ($4.62 billion) in April-June, compared with a restated 25.14 billion yuan in the same quarter last year and a consensus forecast of 30.1 billion yuan from five analysts polled by Reuters.

Like top Asian refiner Sinopec Corp. (0386.HK) (600028.SS) (SNP.N), PetroChina, ranked as China's No.2 refiner, benefitted from Beijing's two fuel increases in June.

At the same time, the company has been hit by the sharp fall in oil prices, a challenge facing other international oil producers including Exxon Mobil (XOM.N) and Royal Dutch Shell Plc (RDSa.L). ($1=6.831 Yuan) (Reporting by Sui-Lee Wee, Editing by Chris Lewis)