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PetroChina's net profit up 1.4 percent in first half |
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17:05, August 23, 2007 |
PetroChina Company Limited, the listed subsidiary of China National Petroleum Corporation, China''s largest oil producer, reported on Thursday that its net profit for the first half of 2007 was 81.83 billion yuan, up 1.4 percent from the first half of 2006.
According to its half-year release, consolidated turnover for the first half was 392.7 billion yuan, up 20.3 percent over the same period last year, with earnings per share reaching a record high of 0.46 yuan.
Pre-tax profit decreased 4.8 percent from a year earlier to 110.3 billion yuan, due to lower crude oil prices, the rise in operating expenses and in the special levy for oil exploration profits, said the company.
The average realized crude oil price in the first half of 2007 was 57.69 U.S. dollars per barrel, down 1.8 percent from 58.75 U.S. dollars per barrel from a year earlier.
The total output of crude oil and natural gas for the January-June period rose 3.7 percent from the same period of last year to 552.7 million barrels of oil equivalent.
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