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Oil companies profit 146b yuan in H1

Updated: 2011-08-29 17:10

(chinadaily.com.cn)

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China Petroleum & Chemical Corp (Sinopec), China's largest refiner by capacity, posted a first-half net profit of 40.2 billion yuan ($6.3 billion) on Sunday, an increase of 9.4 percent from a year earlier, the Beijing Times reported.

China National Offshore Oil Corporation (CNOOC) on Wednesday reported a 51 percent jump in interim profit, fuelled by higher crude oil prices and increased production.

PetroChina posted a flat first-half net profit on Thursday, as upstream earnings offset refining losses.

The first-half net profit of the three leading oil companies in China totaled 146 billion yuan, averaging at 800 million yuan a day. 

By Sun Yuanqing

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