|
CHINA> National
![]() |
|
PetroChina earnings rise 30%
By Wan Zhihong (China Daily)
Updated: 2008-10-30 09:55 PetroChina Co, the country's biggest oil and gas producer, posted a 30 percent increase in third-quarter earnings thanks to higher crude oil prices and increased output. The company reported a net profit of 39.89 billion yuan from July to September. Earnings per share were 0.22 yuan, an increase of 0.05 yuan from the same period of last year, PetroChina said in a statement to the Hong Kong stock exchange yesterday.
In the period the company processed 642.5 million barrels of crude oil, up by 5.1 percent year-on-year, said the statement. In another statement filed with the Shanghai stock exchange yesterday, Sinopec Corp, the country's largest refiner, posted a 39 percent fall in third-quarter earnings, as higher crude prices pushed its refining business deep into the red, even after it received 11.7 billion yuan in government subsidies. In the first nine months the company processed 128.77 million tons of crude oil, up by 7.25 percent from the same period last year, said the statement. In the period the company produced 31.33 million tons of crude oil, and 6.1 billion cu m of natural gas, said the statement. "If there is no adjustment on refined oil prices in the fourth quarter, PetroChina and Sinopec will see good financial performance in the period," said Liu Gu, an analyst with Guotai Jun'an Securities in Shenzhen. The crude oil price rose to a record of $147 per barrel in July. However, domestic refined oil products prices are controlled by the government. |
||||
章丘市| 佛山市| 大理市| 左贡县| 龙门县| 竹山县| 乌兰浩特市| 垫江县| 太和县| 耿马| 凤冈县| 株洲市| 绥芬河市| 柳林县| 江北区| 通榆县| 长武县| 景德镇市| 阳原县| 岑溪市| 佛学| 龙门县| 东乌| 紫金县| 博客| 文登市| 宁强县| 大丰市| 四川省| 玉田县| 浦城县| 遵义县| 寿阳县| 东山县| 田林县| 澄城县| 神池县| 莱芜市| 博白县| 巍山| 睢宁县|