Chinese Oil Giants Rake in 265 Billion Yuan in Profits
Published:
2011-03-29
China’s three leading oil giants, Sinopec, Petro China and China National Offshore Oil Corporation (CNOOC) earned combined profits of 264.99 billion yuan last year, indicating an average profit of 730 million yuan per day. The reported profits have triggered suspicion and outrage among Internet users because, as analyst Yu Fenghui put it, consumers always end up paying the price for oil industry profits.
Source
Beijing Morning Post
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