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CNPC Reports 2000-2005 Profits of 58.7 Billion US Dollars

Posted on: Wednesday, 18 January 2006, 09:01 CST

CNPC reports 2000-2005 profits of 58.7 billion US dollars

BEIJING, Jan. 17 (Xinhua) -- The China National Petroleum Corporation (CNPC), China's largest oil and gas producer, reported profit volume of 475.1 billion yuan (58.7 billion U.S. dollars) for the 2000-2005 period, CNPC sources said Tuesday.

The annual average growth of CNPC's profit is 28.3 percent.

CNPC's total income over the past five years was 2.44 trillion yuan with an annual average growth of 14.3 percent. The company paid taxes of 457.3 billion yuan, up 15.2 percent annually.

The total assets of the company reached 1.17 trillion yuan at the end of 2005, 77.7 percent higher than in 2000 and the value of shareholdings grew by 87.2 percent from 2000 to 2005 to reach 737.4 billion yuan.

The CNPC produced a total of 589.26 million tons of crude oil in the past five years with an annual average growth of 2.6 percent. Its total output of natural gas was 141.6 billion cubic meters, increasing by an average of 16.1 percent annually.

The company refined 490.61 million tons of crude oil from 2000 to 2005 with an annual average growth of 7.1 percent and produced a total of 8.7 million tons of ethylene, up 4.8 percent annually.

Source: Xinhua News Agency - CEIS

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