PetroChina 2007 interim earnings set a new record

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Publish time:8/27/2007 3:36:00 AM      Source: CNPC
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On August 23, PetroChina Company Limited, a subsidiary of CNPC, announced that it recorded a consolidated net profit of RMB81.83 billion for the six months ended 30 June 2007, representing an increase of 1.4% from the same period last year. Earnings per share reached RMB0.46.

In the first half of the year, the Company''s oil and gas output amounted to 553 million barrels of oil equivalent, representing an increase of 3.7% from the same period of 2006. It produced 420 million barrels of crude oil, representing an increase of 600,000 barrels or 0.1% from the same period of 2006, and 798 billion cubic feet of marketable natural gas, representing an increase of 16.5% from the same period of 2006. The Company''s natural gas production maintained a strong growth momentum.

In the first half of 2007, the Company processed 408 million barrels of crude oil, representing an increase of 3.8% from the same period of 2006. It produced 10.67 million tons of gasoline, representing a decrease of 3.6% from the same period of 2006 and produced 23.889 million tons of diesel, an increase of 7.5% from the same period of 2006.

During this reporting period, the realized output of commercial chemical products reached 7.83 million tons, representing an increase of 1.2 million tons or 18.1% compared to the output of 6.63 million tons over the same period of 2006. The Company produced 1.305 million tons of ethylene and 1.997 million tons of synthetic resin during the period, representing a year-on-year increase of 30.1% and 31% respectively. The Company''s Chemicals and Marketing segment recorded an operating profit of RMB5.4 billion, representing an increase of 85.6% from the same period of 2006.

During the first half of 2007, the Company made steady growth in overseas business. As of 30 June 2007, the Company''s overseas net oil and gas production amounted to 29 million barrels of oil equivalent, representing an increase of 6.6% from the same period of 2006.