PROFITS OF CHINA’S OIL GIANTS FALL IN FIRST QUARTER

Based on the statement released in late-April, the Beijing-headquartered PetroChina, the nation＇s largest oil producer, said its first-quarter profit fell 31.5 percent as refining losses and windfall taxes cut its earnings from record crude prices. The net income dropped to 28.9 billion yuan （$4.12 billion） from 42.1 billion yuan a year earlier. The company＇s revenue for the first quarter was 259 billion yuan, an increase of 41.9 percent. Because of the gap between high crude prices abroad and government-controlled low refined oil prices at home, PetroChina＇s refining business saw big losses in the first quarter. In the first quarter, PetroChina processed 217 million barrels of crude oil, an increase of 7.4 percent from a year earlier. The company produced 216 million barrels of crude oil in the period, up 3.3 percent a year earlier. Its natural gas output was 484.7 billion cubic feet, an increase of 18 percent.     

Sinopec Focuses on Sustainable Business Development

Sinopec Corp.,China's largest oil refiner,saw its oil and gas output rise 4.83 percent year-on-year in 2012 to 427.62 million barrels of oil equivalent,according to preliminary data released recently by the oil giant.The company's crude oil production grew 2.04 percent to 328.28 million barrels in 2012.About 93.4 percent of the crude oil was produced inside the country,while the remainder was produced elsewhere.Sinopec's natural gas output climbed 15.66 percent to 598.02 billion cubic feet.The company refined 221.31 million tons of crude oil in 2012,up 1.81 percent from a year earlier.The refinery sector saw losses of 11.95 billion yuan during the period,narrowing from the 37.61 billion yuan in 2011,according to the report.     

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.     

Sinopec Remarkable for Its 2005 Business Results

Sinopec, China＇s largest oil refiner, produced 278.82 million barrels of crude oil in 2005, up 1.7 percent from the previous year, according to the statement released by the company in mid-January. Meanwhile, Sinopec produced 221.92 billion cubic feet of natural gas in 2005, up 7.20 percent year-on-year, and refined 139.94 million tons of crude oil, 5.26 percent higher than a year ago.     

PetroChina Posts All-time High Oil and Gas Production in 2005

PetroChina, China＇s largest oil and gas producer, has set a record high for its 2005 oil and gas output by producing 1.034 billion barrels ofoil equivalent in total, rising by 5.5 percent from a year earlier. The company produced 105.9 million tons of crude oil last year from its domestic assets, accounting for 58 percent of the country＇s total oil output. The company＇s domestic production in 2005 is equal to 842 million barrels, the highest level since the company issued IPO at NYSE and HKSE in 2000. This represented an increase of 12.80 million barrels,     

PETROCHINA’S OIL AND GAS PRODUCTION GROWS 5.3 PERCENT IN FIRST THREE QUARTERS

PetroChina announced its business results of the first three quarters of 2005 in mid-October. Based on the statistical figures made available from China’s No.1 oil producer, the January-September oil and gas production targets rose 5.3 percent as compared to the same period of the previous year. The accumulated oil and gas equivalent produced by PetroChina in the first three quarters of the year totaled 722 billion barrels, 36.30 million barrels more than the same period of last year. Of t…     

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.     

PetroChina＇s Sustainable Oil and Gas Development in 2004

PetroChina has created another record high for its profit according to the interim business results released by the nation‘s largest oil company on August 26. The net profit of PetroChina in the first half of 2004 reached 45.29 billion yuan, a 17,3 percent increase over the same period of the previous year. Meanwhile, the sales revenue reached 179,55 billion yuan, 21.4 percent from the same period of the previous year.     

CNOOC Net Profit Drops 10.6 Percent in First Half

China National Offshore Oil Company Limited （CNOOC） on August 29 announced the first half net profits down by 10.6 percent from the same period last year to 14.55 billion yuan. The first half revenue of the company decreased by 12.7 percent to 42.22 billion yuan as compared to the same period of the previous year, with the basic earnings per share dropping 12.8 percent to 0.34 yuan. The company attributed the decrease to the factors including lower crude oil prices, higher operating expenses and the increase in the special levy on oil exploration profits. The average oil price realized by CNOOC was US$58.8 per barrel in the first half, a decrease of 5.8 percent. The gas price was unchanged from the same period last year at US$3.21 per 1000 cubic feet.[第一段]     

CNPC Braced for Rapid Business Development

PetroChina’s production and operations advanced steadily in 2011 29 March,2012,PetroChina Company Limited announced its annual results for 2011. The Company’s total crude oil output reached 886.1 million barrels,representing an increase of 3.3%as compared with last year.Output of marketable natura gas reached 2,396.4 billion cubic feet,representing an increase of 7.9% as compared with last year.The oil and natural gas equivalent output amounted to 1,285.6 million barrels,representing an increase of 4.7%as compared     

Sinopec Raises 2006 Oil and Gas Production

Sinopec Corp., the nation＇s second-biggest oil company, is expected to produce 1.9 percent more crude oil and 11 percent more gas in 2006 as the nation＇s energy demand continually rises. The company may pump 40 million tons of crude oil and 7 billion cubic meters of natural gas from domestic fields this year, said Sinopec Corp in a statement released in late December. The company produced 39.27 million tons of crude oil and 6.3 billion cubic meters of gas last year. Chinese oil companies are increasing investments in oil and gas exploration to meet demands by the world＇s fastest-growing major economy, which expanded 10.7 percent in the first three quarters of this year.     

PetroChina＇s Net Profit Rises Moderately in Q3

At the end of October, China＇s oil giant PetroChina announced a 9.6-percent increase in its net profit for the first three quarters of 2013 as the company managed to adapt to market changes. Net profit during the January- September period came in at 95.3 billion yuan （US$15.5 billion）, with earnings per share up 5.8 percent to 0.21 yuan based on international financial reporting standards, the company said in a statement filed with the Shanghai Stock Exchange. Revenue was up 5.5 percent to 581.7 billion yuan.     

China''''s Three Oil Giants Release 2002 Business Results

PetroChina sees remakable results for 2002Business On March 31,PetroChina announced its 2002 businessresults in Hong Kong.The net annual profit stood at 46.91billion yuan in the 12 months as of December 31,2002,up3.17percent from the same period of the previous year.Thegrowth for the profit is in line with the market expectationsand reflects the remakable results PetroChina has achievedin standardization of management,optimization of structureand technical innovation for higher operational efficiency. The growth for PetroChina’s profit can be attributedmainly to the increase in crude,refining pfoducts and naturalgas sales,the price hike of natural gas and the increase ingross profit of oil refining and natural gas sales.The profit isgenerated mainly from sales of crude oil in the company’sexploration and production sector. During this period of time,PetroChina’s business turnoverreaches 244.424 billion yuan,a1.29 percent increase overthe previous year.The net profit per share is 0.27 yuan,0.01yuan hi     

PetroChina Invests for Overseas Expansion

Chinese oil giant PetroChina released its first-half business results in late August,saying that its net profits dropped 6 percent from a year earlier to 62.02 billion yuan(US$9.84 billion)in the first six months.It attributed the decrease to lower selling prices of     

Net Profit of Sinopec Drops Sharply in the First Half

China Petrochemical Corporation （Sinopec）, Asia＇s biggest oil refiner, saw its first half net profit fell 73.4 percent over the same period of last year. The company＇s net profit was 9.34 billion yuan （US$1.36 billion） in the first six months, or 0.108 yuan per share under China＇s accountant rules, said the Sinopec in its half-year report released in August.     

PetroChina Profit Growth Slows

Net profits of PetroChina edged up 0.8 percent year on year to 96.05 billion yuan （US＄15.64 billion） in the first three quarters of 2014,according to the new data released by the oil giant in early November.The pace was much slower than a 4 percent growth in the first half of this year.     

PetroChina＇s Oi1 and Gas Outputs Higher than Expected in 1 st Quarter

PetroChina, one of China‘s big-three oi1 companies,announced in a statement released in mid-April that its production inched up in the first quarter, underscoring its need to find new sources of oi1. Despite increase of investment for on oi1 exploration, PetroChina said its oil and gas output rose just 3.3 percent to 229.1 million barrels of oi1 equivalents in the January-March period ot this year.     

BP Sells Stake in PetroChina and Sinopec

BP, the world‘s third-largest oil company, sold its 2 percent stakc in PetroChina at HK$3.70 (47.4 US cents) a share to raise HK$13 billion (US$1.65 billion) on January 12, causing shares in Chinese oil companies falling on the HongKong stock market on the day.     

Business Results of CNOOC Ltd. Remarkable in Third Quarter

CNOOC Limited announced on October 28 that its total revenue amounted to 30.9 billion yuan （US$4.5 billion） for the third quarter of 2008, representing a 69.1 percent year-on-year increase. The Chinese offshore oil giant also achieved a total net daily production of 549,589 barrels of oil equivalent （BOE）, a strong 15.2 percent increase over the same period of last year. During the January- September period, the company＇s oil and gas revenue reached 30.5 billion yuan （US$4.5 billion）, representing a year-on-year increase of 67.9 percent. Meanwhile, the company＇s total oil and gas revenue hit 84.95 billion yuan （US$12.16 billion） with a 65.3 percent increase.     

Sinopec Sees Satisfactory Half-Year Business Results

Sinopec, China＇s second largest oil producer, announced on August 26 that its net profits in the first half of 2007 rose by 65.3 percent from the same period of last year to 34.9 billion yuan （US$4.6 billion）. Based on the statistical figures from the Chinese Accounting Standard for Business Enterprises, Sinopec＇s operating income in the first half was 566.8 billion yuan （US$74.6 billion）, representing an increase of 15.4 percent over the same period of the previous year. The company＇s basic earnings per share is 0.403 yuan, up 65.3 percent from a year ago.[第一段]