HONG KONG Aug 23 PetroChina
, the country's dominant oil and gas producer
which also owns refineries, posted a 21 percent drop in
quarterly earnings, lagging forecasts, weighed down by lower
crude oil prices and further losses in refining and
Second-quarter net profit fell to 22.83 billion yuan ($3.59
billion) from 29 billion yuan a year earlier, based on Reuters'
calculations from half-yearly results and previous releases.
That result compared with an average forecast of 26.73 billion
yuan by eight analysts polled by Reuters.
($1 = 6.3518 Chinese yuan)
(Reporting by Charlie Zhu and Alison Lui; editing by Anne Marie
Roantree and Ian Geoghegan)