August 23, 2012 / 8:26 AM / 5 years ago

PetroChina Q2 profit slides 21 pct, lags forecasts

HONG KONG, Aug 23 (Reuters) - 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 chemicals.

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)

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