Wall Street Journal | PetroChina to Slash Spending as Oil Prices Hit Profits Wall Street Journal BEIJING—PetroChina Co. has become the latest major global oil company to slash its spending plans for the coming year, after a global drop in oil prices led to a 17% fall in its 2014 net profit. The company is pledging to cut capital spending 8.8%, to ... Oil giant PetroChina's 2014 net profit slumps 17% UPDATE 1-Hit by oil slump, PetroChina eyes spending cuts and divestments PetroChina 2014 profit falls amid lower oil prices |