News Snapshot:
PetroChina said it expects investments on low-carbon energy projects to account for one-third of its overall spending by 2035, underpinning the state-backed company’s efforts to help the country achieve net zero emission by 2060. The announcement came as China’s largest oil and gas producer on Thursday posted a remarkable turnaround in first-half earnings. The company reported net profit of 53 billion yuan (US$8.17 billion) for the six months ended June, compared to a loss of 30 billion yuan a year earlier. It also beat analysts’ estimates of 52 billion yuan. The earnings were propelled by a 50.3 per cent rise...
