Business Insider | China oil groups rebuff merger rumours Financial Times China National Petroleum Corp and Sinopec, China's top two state-owned oil companies, have denied they are considering merging to form a giant monopoly after rumours prompted both companies' Hong Kong-listed shares to jump on Monday. PetroChina ... Oil giant PetroChina Q1 net profit plunges 82% PetroChina profit down 82% on oil price PetroChina profit down 82 percent on low oil price |