USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Companies

CNPC net profit soars in first half of 2017

By Zheng Xin | chinadaily.com.cn | Updated: 2017-07-26 19:38

China National Petroleum Corporation, China's largest oil producer and supplier, says its net profit is 16 times higher than expected during the first half of 2017, reaching nine billion ($1.33 billion) to 11 billion yuan.

According to an early announcement on earnings released by the company on Wednesday, net profit during the first six months of this year rose 1,600 percent to 1,986 percent compared with the same period last year, which was 528 million yuan.

The company attributed the drastic boost to a moderate recovery of the world economy and an increase in international oil prices.

The company's optimization of manufacturing operation and expenditure reduction during the first six months also helped, it said.

Most Viewed in 24 Hours
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US