Forbes | PetroChina Battles Dismal Oil Prices, Profit Plunges 77% Forbes Some dismal news for China's Oil Patch came on Friday as one of its oil majors announced a massive profit drop for last quarter. Beijing-based PetroChina, the country's largest oil and gas producer, posted a dismal 76.9% decline in third quarter profit ... Big Oil's Shrinking Act Has More to Go in China - Bloomberg |