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China National Petroleum revenues up 6%

By Zheng Xin | chinadaily.com.cn | Updated: 2020-03-26 22:55

Workers are seen near pumpjacks at a China National Petroleum Corp (CNPC) oil field in Bayingol, Xinjiang Uighur Autonomous Region, China, August 7, 2019. [Photo/Agencies]

China National Petroleum Corp saw its revenue go up 6 percent year-on-year in 2019 to 2.52 trillion yuan ($360 billion), with net profit recorded at 121.76 billion yuan.

The company said in a statement released on Thursday that crude production last year rose by 2.1 percent year-on-year to 909 million barrels, with gas volume available for sale reaching 3.91 trillion cubic feet, up 8.3 percent year-on-year.

Of total profit last year, more than 96 billion yuan was earned from the exploration and production sector, up 30.7 percent year-on-year. The per barrel operating cost went down by 1.6 percent year-on-year to $12.11.

The oil and natural gas equivalent output amounted to 1.56 billion barrels, rising by 4.6 percent year-on-year, it said.

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