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]     

PetroChina Sees Tremendous Rise in Profits in First Half of 2005

PetroChina seized the favorable opportunity when the international oil price was raising and the domestic market demand in China was strong to enlarge production and optimize the operation management actively in the first half of this year, which making it＇s all indicators of the production and operation see fully upgraded and enabling sustainable rapid and effective development.     

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.     

PetroChina＇s Oil Production Continues to Climb

The discovery of the giant oil field in China＇s Bohai Bay Basin reveals a bright prospect for PetroChina＇s business development. The company＇s oil and gas production in the first quarter of this year rose to 277 million tons of oil equivalent, 3.7 percent up from the same period of the previous year, according to the statement recently released by PetroChina.[第一段]     

PetroChina to Construct China＇s Largest Oil Storage Facility in Shanghai

PetroChina was planning to build China‘s largest commercial oil storage tanks, with the capacity for 1 million cubic meters (6.3 million barrels), according to the recent reports from China‘s news media. Work on the Shanghai complex is expected to start around the middle of this year and the first section, able to hold up to 400,000 cubic meters of oil,     

Sinopec Posts Better-than-expected Profit in First Half

Sinopec, Asia＇s top oil refiner, posted a betterthan-expected 9 percent increase in net profit for the first half of 2006 as oil exploration and finished product price rises offset huge refining losses. In the January-June period, Sinopec earned 21.4 billion yuan （US$2.675 billion） against 19.65 billion yuan （US$2.46 billion） a year earlier. Its turnover jumped 33.8 per cent year-on-year to 493.1 billion yuan （US$61.6 billion）.     

Review of China＇s Oil Market in the First Half

Market demand and supply
（1） Crude oil production continued to rise slowly, while the output of most oil products decreased increasingly.
① Domestic crude oil production increased slowly. Bases the limited domestic resources, combined with the purchasing price of crude oil being higher than the selling price of product oil as at present in China, the output of crude oil increased slowly from April to June in 2008.     

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.     

Dalian Aims to Become China＇s Largest Petrochemical Base

Dalian City, the coastal city in Northeast China‘s Liaoning Province,will be built into China‘s largest petrochemical base in about 10 years, according to vice mayor of the city Wang Chengmin.     

Dalian will Become the PetroChina＇s Biggest Marine Transportation Base of Petrochemical Product

This year, PetroChina Dalian Petrochemical Company will invest 190 million yuan jointly to expand and reconstruct Dalian petrochemical port. The project is scheduled to be completed in the first half of 2006, and the new throughput will increase 7 million tons to reach 24 million tons yearly. PetroChina Dalian Petrochemical Company also plans to build a another 150-thousand-ton oil product wharf during the period of “1lth Five-Year-Plan”,     

Sinopec＇s Profits up Drastically in First Quarter

Sinopec, Asia‘s largest refiner,announced on April 29 that its net first quarter profit skyrocketed almost 12fold as it sold more refined oil and petrochemical products, cashing in on the international price hikes in oil during the period. However, analysts said the growth of China‘s second largest oil company is expected to     

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.     

China＇s Industrial Sector Reports profit Growth in First Quarter

China‘s industrial enterprises made profits of 159.1 billion yuan (US$19.2billion) during the first quarter of this year, nearly double that of the same period last year, the National Bureau of Statistics in late April. The profit growth,     

Review of China＇s Oil Market in the First Half of 2007

Major features of China＇s oil market in the first half of 2007 Oil demand and supply still increased rapidly in China in the first half2007. Growth from April to June was more rapid than that from January to March, as well as oil price was kept high.[第一段]     

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 previoas year.     

PetroChina‘s Natural Gas Production in 1st Half of 2001

PetroChina plans to produce 19.2 cubic meters of natural gas in 2001, of which gas-bed gas accounts for 13.73 billion cubic meters and soluble gas for 5.47 billion cubic meters. During the period between January and June of this year, PetroChina actually produced 10.05 billion cubic meters of natural gas,fulfilling 52.3 percent of the annual plan and increasing by 1.01 billion cubic meters as compared with the same period of last year.……     

CNPC Reports 109.1 Percent Growth in Profits in First Half of 2003

Based on the information made available from CNPC, the oil giant has achieved the satisfactorybusiness results in the first half of this year despitethe fluctuating oil prices at the international marketand the outbreak of SARS epidemic at home.