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WASHINGTON (AP) — On a trip to Australia in 2012, Hillary Rodham Clinton lavished praise on the proposed Trans-Pacific Partnership, calling it the "gold standard" in efforts to create open and fair trade.
Chinese energy giant PetroChina said its net profit plunged 82 percent year-on-year in the first three months of the year, blaming the plunge in international oil prices. Net profit came in at 6.15 billion yuan ($1.01 billion) in the first quarter, down from 34.25 billion yuan for the same period in 2014, the company said late Monday in a statement to the Hong Kong stock exchange, where it is listed. "International crude oil prices have significantly declined since the second half of 2014 and fluctuated at a low level in the first quarter of 2015,” PetroChina chairman Zhou Jiping said in the statement. Turnover of PetroChina slumped 22.4 percent year-on-year to 410.34 billion yuan in the first quarter, according to the statement.