PetroChina's ethylene production reaches record level in H1
26 Aug '05
6 min read
During the first six months of 2005, the Company's oil and gas output amounted to 481 million barrels of oil equivalent, representing an increase of 5.3% from the same period of 2004. It produced 397 million barrels of crude oil, representing an increase of 2.1% from the same period of 2004, and 506.4 billion cubic feet of marketable natural gas, representing an increase of 23.4% from the same period of 2004.
During the first half of 2005, the Company's oil and gas exploration and production segment recorded an operating profit of RMB84.7 billion, representing a 60.7% increase from the same period of 2004. The Company's average realized price for crude oil rose to US$43.42 per barrel in the first half of 2005 from US$29.76 per barrel in the first half of 2004.
Refining and Marketing In the first half of 2005, the Company's refining business maintained steady growth through optimizing its resources allocations and business operations. The Company processed 379 million barrels of crude oil, representing an increase of 7.4% from the same period of 2004. The total output of gasoline, diesel and kerosene was approximately 33.33 million tons, while the sale volume of refined products reached 38.38 million tons which represented a 15.7% increase from the same period of 2004. The retail volume was 18.29 million tons, representing a rise of 28.9% from the same period of 2004.
During this period, the Company continued to expand its sales and marketing network, especially the retail network, and to leverage the synergy of its integrated refinery and marketing segments. The number of service stations totaled 17,215, representing an increase of 3.2% from the same period of 2004. The number of service stations that are owned by the Company increased 2,070, compared to that of the first half of last year.
marketing@alchempro.com
