LINE

Text:AAAPrint
Economy

PetroChina net profit surges in H1

1
2017-08-25 10:06Xinhua Editor: Gu Liping ECNS App Download

Chinese oil giant PetroChina Thursday reported a surge in net profit in the first half of this year, citing rising oil prices, cost reductions and efficiency improvement.

Profit attributable to company owners reached 12.7 billion yuan (around 1.9 billion U.S. dollars), representing a year-on-year increase of 12.1 billion yuan, according to a statement from PetroChina, China's largest oil and gas producer.

Revenue grew 32 percent year on year to 975.9 billion yuan, due to higher prices and increased sales volume of crude oil, natural gas and refined products, the statement said.

Basic earnings per share stood at 0.069 yuan, an increase of 0.066 yuan on the same period of last year.

The company broadened sources of income, reduced costs and improved efficiency in the first half, according to the statement.

On Thursday, China National Offshore Oil Corp. (CNOOC), the country's largest offshore oil and natural gas developer, reported 16.3 billion yuan of net profit in the first half, compared with a loss of 7.7 billion yuan in the same period of last year.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.