China''''s Three Oil Giants and Foreign Multinationals Donate for SARS Fight

China’s oil giants’help in SARS warresults in good public images.ChinaNational Petroleum Corporation(CNPC),the nation’s largest oil company,hasdonates 20 million yuan(US＄2.4 million)for the government’s fight against severeacute respiratory syndrome(SARS).CNPC contributed 12 million yuan(US＄1.5 million)to the Ministry ofHealth and 8 million yuan(US＄967,300)to Beijing Municipal Government.President of CNPC Ma Fucai said CNPC,as the key State-owned enterprise,isobliged to support the government in itsefforts to beat the epidemic。 In a letter to CNPC released in mid-May,Beijing Municipal Governmentexpressed gratitude to CNPC on behalfof all the citizens in Beijing and spoke     

China-made 0il Rigs Well Sold on International Market

By the end of July, China Petroleum Technology Development Company(CPTDC), one of CNPC‘s subsidiaries, has cumulatively sold 26 oil drilling rigs worth more than US$200 million in the past three years. CNPC has two     

Output Of China’s Top Oil Producer Rises Steadily

China National Petroleum Corporation (CNPC),the country's biggest oil and gas producer,said in early January 2013 that its crude oil output from domestic blocks reached a record high of 110.33 million tons in 2012,up 2.79 million tons from one year ago.Production from the Daqing Oilfield in northeastern China reached 40 million tons in 2012 while output from the Changqing Oilfield in Northwest China's Shaanxi Province hit 22.62 million tons,up 2.6 million tons from 2011.Production from oilfields in Xinjiang Uygur Autonomous Region rose to 18.39 million tons last year,according to CNPC.In addition,the oil giant said its oil and gas sales exceeded 200 billion yuan (US$31.75 billion) for the first time in the year.     

Sinopec Sees Tremendous Rise in Its First-half Net Profit

Sinopec Corp, China‘s second largest oil producer,released its first-half net profit on August 30, which rose 51 percent to 16 billion yuan (US$2 billion) owing to the increased domestic demand and higher oil prices. Earnings per share rose from 0.12 yuan to 0.19 yuan. The company produced 136 million barrels of oil and 100 billion cubic feet of natural gas in the first six months of this year. Sinopec expects that the global demand for crude oil will continue to grow in the second hall with crude oil prices fluctuating at a relatively high level.     

Business Income ofCNOOC Ltd Skyrockets inFirst Quarter

CNOOC, one of China‘s three oil giants, announced on April 30 that its pre-audited business income in the first quarter of 2003dramatically jumped to 7.5 billion yuan(US$906 million)‘, up 87.3 percent from the same period of the previous year. The strong growth can be attributed to the production increase and the oil price hike.     

CHINA BEEFS UP OIL COOPERATION WITH RUSSIA

China National Petroleum Corporation （CNPC）, China＇s largest oil company, has recently bought US$500 million worth of shares in Russian oil giant OAO Rosneft. Based on a statement released in mid-July, CNPC bought the 66.2252 million shares in Rosneft at US$7.55 per share. The Russian firm is scheduled to go public on both the London and Moscow stock exchanges in an initial public offering （IPO）, one of the largest of its kind worldwide.     

CNOOC Limifed 2003 Interim Profits Hit Record High

CNOOC Limited announced onSeptember 4 that for the six monthsended June 30, 2003, the unaudited netprofit surged to 6.3 billion yuan(US$765 million), a 75.0% year-over-year increase from 3.6 billion yuan(US$437 million), the highest in thecompany's history, and the totalrevenues increased 68.3% to 17.9billion yuan (US$2. 16 billion) from10.6 billion yuan (US$1 .29 billion). The oil and gas revenues were 14.2billion yuan (US$1.7 billion), a 47.3%     

Sinopec''''s Profits up Drastically in First Quarter

Sinopec, Asia's largest refiner,announced on April 29 that its net firstquarter profit skyrocketed almost 12-fold as it sold more refined oil andpetrochemical products, cashing in onthe international price hikes in oilduring the period. However, analystssaid the growth of China's secondlargest oil company is expected torecede in the second quarter as oil pricesfall due to the end of the Iraq War.Theystill anticipate the company's full-yearprofit will increase by 15 percent ormore on the back of a domestic oilmarket recovery. Sinopec earned 6.42 billion yuan(US$775 billion) in the first quarter,compared with 542 million yuan(US$65.5 million) a year earlier, basedon the international accountingstandards, the company said in astatement. Earnings per share (EPS)increased to 0.07 yuan (0.8 US cents)over the same period of the previousyear. Revenues rose 55.6 percent to102.7 billion yuan (US$12.41 billion).The profit surge is in line with marketexpectation as analysts said high oil     

CNOOC Limited 2003 Interim Profits Hit Record High

CNOOC Limited announced on September 4 that for the six months ended June 30, 2003, the unaudited net profit surged to 6.3 billion yuan(US$765 million), a 75.0% year-overyear increase from 3.6 billion yuan(US$437 million), the highest in the company‘s history, and the total revenues increased 68.3% to 17.9     

Sinopec Maintains Strong Growth Momentum Both at Home and Abroad

Sinopec spending big to develop Xinjiang oil Sinopec Group plans to invest 53 billion yuan(US$8.03 billion)to boost oil and gas production in Xinjiang, China’s western region rich in petroleum resources,by 2015,according to an announcement released by the giant refiner in mid-March.The company is targeting expanding the capacity of its Tahe refinery in Kuqa country to 10 million tons per year,from 4.25 million tons in 2011, which is expected to bring 40 billion yuan of production value.Sinopec will also add 10 oil storage facilities and 500 service stations in Xinjiang by 2015.     

CNPC-Active Oil Player Worldwide

China National Petroleum Corporation （CNPC）, China＇s largest oil and gas producer, has cumulatively made an investment of 59.6 billion yuan （US$7.39 billion） for its overseas oil and gas business in the past few years. The group has established five oil and natural gas production bases in Africa, central Asia, America, the Asian and Pacific region and the Middle East.     

China＇s First Orimulsion-fuelled Power Project Kichs off

China‘s first Orimulsion-fuelled power project was recently kicked off in Zhanjiang, a coastal city in Southeastern China‘s Guangdong Province. This project, which draws an investment of about 4.1 billion yuan, is a joint venture among CNPC Fuel Oil Co Ltd with a 51 percent stake, Guangdong Electric Power Development Co Ltd with a 39 percent stake and Zhanjiang Harbor Group Co Ltd with a 10 percent.Construction of the power plant began in November last year and the first phase (including the desulfurization project) is scheduled to go into operation in the first quarter in 2006.With an investment of 4.1 billion yuan (US$493.98 million),the first phase is designed to have two 600-megawatt generating sets. The project will help ease the worsening power shortage in Guangdong.     

Construction of Refinery Planned in China＇s Coastal Area

CNOOC plans to build a 12-million-ton-per-year oil refinery in Southeast China‘s Guangdong Province in the next three years to tap the lucrative oil market in the southern part of the nation. Investment in the project, which was approved by the central government in mid-July, will total at least 16 billion yuan (US$1.93 billion).     

China＇s Oil Giants Successfully Operates Worldwide

China National Petroleum Corporation (CNPC) won the bid for an oil integration project in Algeria‘s Adrar Province on May 13 when Algeria National Petroleum Corporation (Sonatrach Inc) held the million barrels. Adrar Province is sparsely populated. To promote the economic development in this region,     

Sinopec First-Quarter Net Profit Surges

China Petrochemical Corporation （Sinopec）, one of the nation＇s leading onshore oil producers, registered a 112.6-percent rise in its net profits in the first three months of 2007. The company said in a statement on its quarterly business results released in mid-April a total net profit of 19.42 billion yuan （US$2.5 billion） for the first quarter. Sinopec produced 70.96 million barrels - 9.99 million tons - of crude oil and two billion cubic meters of natural gas in the first quarter this year.     

China-made Oil Rigs Well Sold on International Market

By the end of July, ChinaPetroleum TechnologyDevelopment Company(CPTDC), one of CNPC'ssubsidiaries, has cumulativelysold 26 oil drilling rigs worthmore than US$200 million in thepast three years. CNPC has two     

New Progress in China＇s Energy Cooperation withRussia and Kazakhstan

CNPC and Russia‘s private oil producer YUKOS signed an agreement on May 28 in Moscow, setting out key aspects such as the quality of oil to be supplied, contractual terms and pricing formulas to pave the way for a US$2.5 billion oil pipeline stretching the vast expanse of Siberian and into China. This agreement was inked on the third dav of China‘s     

China Engaged in Wide-Ranging Foreign Cooperation

CNPC to drill exploration wells in Turkmenistan China National Petroleum Corporation （CNPC）, one of China＇s biggest oil and gas producers, announced in mid-May that it has signed a contract with Turkmenistan on natural gas exploration, under which Turkmenistan will pay US$151 million to CNPC to drill 12 exploration wells at the Gunorta Eloten field over three year. The drilling service will be offered by CNPC Changqing Petroleum Exploration Bureau, which will drill those wells in an oil field for Turkmen Geology State Corporation.[第一段]     

CNOOC Reports Significant Increase in 2006 Profits

China National Offshore Oil Corporation （CNOOC）, the country＇s No. 3 oil producer, recently announced pretax profits jumped 24 percent to 48.1 billion yuan （US$6.2 billion） in 2006. The offshore oil giant reported 60.1 percent increase in pretax profits, totaling 38.8 billion yuan （US$5 billion） in 2005. Analysts said the dropped oil prices in the second half of last year had greatly affected the company＇s profit growth.     

Chinese Government Approves Nanhai Oil Refinery Project of CNOOC

The Nanhai Oil Refinery Project independently funded by CNOOC was approved by the related governmental departments in late July. The offshore oil giant builds the 12 million ton-per-year oilrefinery in Guangdong Province in the next three years to tap the lucrative South China oil market.The investment in the project will total at least 16 billion yuan (US$1.93 billion).