PetroChina Profits Rise Expected

China's largest oil company PetroChina is expected to announce a seven percent increase in profits in 2007, partly on higher crude prices and increased contributions from its chemicals and natural gas business.

Analysts polled by Thomson Financial predict, on average, a 2007 net profit of CNY152.1bn, up from CNY142.2bn the previous year.

PetroChina's results will be released next week.

By staff writer