PetroChina's ethylene production reaches record level in H1
26 Aug '05
6 min read
Beijing based PetroChina has released its 2005 interim earnings.
PetroChina Company Limited announced that it recorded a net profit of RMB61.6 billion for the six months ended 30th June, 2005, representing an increase of 36.1% from the same period of last year. Earnings per share reached RMB0.35, which was approximately RMB0.09 higher than that for the same period of 2004.
By leveraging the continued high crude oil prices and the steadily rapid growth of the domestic economy, the Company achieved improved operational results and a notable increase in earnings during the first half of 2005. During the first six months of 2005, the Company took advantage of its strength in the upstream segment, optimized and adjusted its downstream operational structures, accelerated pipeline constructions and enhanced business management, all of which have contributed to the Company logging a new half year earnings record since its listing.
"We have seen sound performance in our major business segments during the first half of 2005. Our oil and gas exploration achieved significant breakthroughs in both the eastern and western China regions thanks to the great efforts we have made, while oil and gas production also saw increases. Our refinery segment improved key technical indicators, the chemical segment increased both the output and sales of major products, and our pipeline construction progressed rapidly. All these achievements have contributed to laying a solid ground for us to reach our full year performance target," said PetroChina President Jiang Jiemin.
marketing@alchempro.com
