China petroleum pipeline company claims record gross revenue in 2004

China Petroleum Pipeline Bureau (CPPLB), a key state firm under China's top petroleum producer, China National Petroleum Corporation (CNPC), announced it had earned record high gross revenue of 6.8 billion yuan (about 822 million US dollars) in 2004.

"The tremendous achievements resulted mainly from the company'sbrand-new expansion policy, especially the exploration of the international markets," said Su Shifeng, director general with CPPLB at the company's annual working conference at weekend.

The company has made breakthroughs on overseas markets, scooping a total of 350 million US dollars, 87 fold of the figure for 2001.

In 2004, CPPLB has organized 290 domestic bidding projects, among which 197 have been won, and 16 projects for overseas bidding, with 12 approved.

At present, CPPLB has launched dozens of projects all over the globe, including eastern Europe, Africa and central Asia.

Source: Xinhua