Oct 29 Reuters Asia39;s largest oil and gas producer PetroChina Co Ltd reported a 5.3 yearonyear decline in thirdquarter net profit as weaker fuel sales and lower oil prices outweighed growing gas and oil output.

Net profit fell to 43.91 billion yuan 6.15 billion, the company said in a stock filing on Tuesday. Revenue fell 12.4 to 702.4 billion yuan.

PetroChina39;s net profit remained the highest among domestic peers. Offshore oil and gas producer CNOOC Ltd posted record quarterly earnings of 36.93 billion yuan while top Asian refiner Sinopec Corp39;s halved to 8.5 billion yuan in the same threemonth period.

In the first nine months, PetroChina, the listed arm of Asia39;s top oil producer China National Petroleum Corp CNPC, produced 708.3 million barrels of oil, 0.3 higher yearonyear, including 585.4 million barrels, or 83, that were produced domestically.

Natural gas output grew 4 yearonyear to 3,803.8 billion cubic feet during the nine months, 96 of which was produced in China.

Crude oil processing at PetroChina, which is also China39;s secondlargest refiner after Sinopec, was down 0.7 at 1,036.2 million barrels, or 3.78 million barrels per day during the ninemonth period.

Meanwhile, the output of chemical products rose 9.7 to 28.64 million metric tons.

That was in line with a 1.6 drop in national refinery throughput in JanuarySeptember, as the world39;s secondlargest oil consumer faced slowing domestic fuel demand and thin refining margins.

Total sales of…