Sinopec and PetroChina Earn a Total of 48.3 Billion Yuan in the First Quarter
Published:
2010-04-30
Sinopec and PetroChina have earned profits of 32.5 billion yuan and 15.8 billion yuan in the first quarter of this year respectively, an increase of 71% and 40% from the same period last year. This increase is due to the increased fuel demand at home, the increased cost of fuel in international market and China's policy of readjusting fuel prices, the first quarter reports of the two oil giants show. The CNOOC,China National Offshore Oil Corporation, has gained a revenue of 30.49 billion yuan, up 118.5%.
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