日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Industries

Outlook bright for China's oil giants

By Zheng Xin | China Daily | Updated: 2017-08-26 09:25
Share
Share - WeChat

PetroChina's petrol station is pictured in Beijing, China, March 21, 2016. [Photo/Agencies]

Analysts believe the outstanding performance of China's three major oil companies is expected to continue in the next six months, as oil prices surge and oil companies worldwide gradually recover from the sector's two-year crash.

China National Petroleum Corp, or PetroChina, the nation's largest oil producer and supplier, said on Thursday evening that its net profit in the first half more than doubled, citing rising oil prices, cost reductions and efficiency improvement.

Net profit reached 12.68 billion yuan ($1.9 billion), representing a year-on-year increase of 12.1 billion yuan, which exceeded its forecast from late July of a net profit in a range from 9 to 11 billion yuan, compared with 528 million yuan during the same period last year.

Revenue grew 32 percent year-on-year to 975.9 billion yuan, due to higher prices and increased sales volume of crude oil, natural gas and refined products.

PetroChina said it expected competition in the oil-and-gas market to intensify in the second half, with global oil prices fluctuating "at a medium-low level with greater uncertainty" and certain countries that have oil resources facing more geopolitical risks.

Wang Lu, an Asia-Pacific oil and gas analyst at Bloomberg Intelligence, said PetroChina is focusing on enhancing total shareholder return as evidenced by a special dividend on top of its 45 percent regular payout in the first half of this year.

"Revenue and profitability of PetroChina may continue to improve in the second half of this year on higher oil prices, though competition in the downstream may erode margins in the second half," she said.

The drastic profit rebound is based on last year's low base, which is also the company's worst first-half profit since it was publicly listed in 2000, she said.

Li Li, the energy research director at ICIS China, a consulting company that provides analysis of the energy market, echoed her voice, saying Petro-China benefited largely from a rebound in international oil prices during the first six months.

On the other hand, another State-owned oil giant China National Offshore Oil Corp, the country's largest offshore oil and natural gas developer, reported 16.3 billion yuan of net profit in the first half, compared with a loss of 7.7 billion yuan in the same period of last year.

CNOOC's revenue is also expected to continue rising in the second half of this year, yet improvements may be smaller as oil prices are unlikely to rise much from current levels, Wang said.

Wang said revenue and profitability of Sinopec, one of China's three oil majors together with PetroChina and CNOOC, may have improved in the first half as a modest oil-price recovery helped narrow exploration and production losses.

"Its oil-output decline should have eased in the second quarter from a sharp 9.2 percent drop in the first quarter, while the company's gas-production growth could have accelerated to realize its targeted 15 percent increase," Wang said.

Top
BACK TO THE TOP
English
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
CLOSE
 
主站蜘蛛池模板: 日韩精品片 | 玖玖玖免费观看视频 | av日韩一区二区三区 | 欧美人人澡| 国产在线精品成人一区二区三区 | 99精品视频一区在线视频免费观看 | av免费在线观看av | 日韩在线小视频 | 中文字幕一区二区精品区 | 中文字幕日韩在线 | 国产午夜精品一区二区三区嫩草 | 亚洲一区二区三区免费观看 | 国产在线精品二区韩国演艺界 | 91精品国产爱久久久久 | 国产在线观看第一页 | 一级毛片免费不卡在线 | 黄片一级毛片 | 日韩精品视频在线观看免费 | 亚洲成人一区 | 成人免费在线视频 | 一级成人 | 欧美精品99 | 成人国产精品一区二区毛片在线 | 久福利 | 又黄又爽的网站 | 国内精品易阳在线播放国产 | 久草97| 葫芦娃污视频 | 久久一本日韩精品中文字幕屁孩 | 天天干天天操天天爽 | 久久亚洲精品国产一区 | 精品免费国产一区二区三区 | 亚洲精品电影 | 欧美视频在线免费看 | 欧美级 | 麻豆hd | 欧美无玛| 国产一级免费视频 | gogo全球大胆高清人露出91 | 一区二区免费在线观看 | 79thz.com |