Oil firms shine on price rebound

Analysts expect PetroChina, Sinopec, CNOOC to maintain income growth

Industry analysts predicted the strong rebound of China's oil majors is likely to continue in the second half of the year, after the country's three oil majors - PetroChina, Sinopec and CNOOC - all reported positive half-yearly profits, reaping the benefits of a rebound in crude oil prices.

Total net income among the top three oil majors amounted to 94.17 billion yuan ($13.8 billion) in the first half of the year, 68.1 percent higher year-on-year, with their combined daily net income reaching 516 million yuan.