On the evening of August 26, China National Petroleum Corporation issued interim results. According to IFRS, in the first half of this year, CNPC earned a net profit of approximately 65.33 billion yuan, a year-on-year increase of 29.4%, and a basic profit of 0.36 yuan per share. Increased by 0.08 yuan. The board of directors of CNPC has decided to continue to distribute interim dividends in accordance with 45% of the interim net profit of the international standard. The dividend per share is 0.16063 yuan (including tax).
Since the beginning of this year, PetroChina has strengthened the overall balance of production, transportation, sales, and storage, accelerating the construction of key oil and gas project projects, and intensifying the development of new overseas oil and gas projects. The overall production and operation situation has remained stable and its business performance has increased substantially year-on-year.
In the first half of the year, China Petroleum produced a total of 425 million barrels of crude oil, an increase of 1.7% year-on-year. The increase in output was the highest year-on-year in recent years; the production of saleable natural gas was 1.15 trillion cubic feet, a year-on-year increase of 12.9%. Total oil and gas production reached 617 million barrels of oil equivalent, an increase of 4.9% year-on-year. The exploration and production segment achieved operating profit of 73.37 billion yuan, an increase of 94.9% year-on-year, and continued to maintain its profitability pillar status.
In the first half of the year, CNPC intensified its oil refining production organization, optimised the allocation of crude oil, adjusted the refining processing volume in a planned manner in accordance with market changes, and maintained a processing load of over 90%. A total of 439 million barrels of crude oil were processed, a year-on-year increase of 12.8%. The output of chemical products reached 9.056 million tons, a year-on-year increase of 10.6%. However, due to the impact of rising crude oil prices, the profitability space for refineries was narrowed, and the operating profit of the refining and chemical sectors was 5.46 billion yuan, a decrease of 68.3% year-on-year.
The sales volume of refined oil products increased in volume and efficiency, and the market share increased steadily. In the first half of the year, refined oil sold 59.52 million tons, an increase of 26.6% year-on-year; of this, domestic sales of refined oil products was 49.25 million tons, a year-on-year increase of 17.6%. The domestic retail market share increased by 2.9 percentage points to 38.1%. During the period, the sales segment realized operating profit of 7.53 billion yuan, a year-on-year increase of 3.3%.
In the first half of the year, PetroChina made new progress in expanding overseas oil and gas exploration. Its overseas operations achieved a net oil and gas production of 55.2 million barrels of oil equivalent, an increase of 8.3% year-on-year, accounting for 8.9% of the company's total production.
Since the beginning of this year, PetroChina has strengthened the overall balance of production, transportation, sales, and storage, accelerating the construction of key oil and gas project projects, and intensifying the development of new overseas oil and gas projects. The overall production and operation situation has remained stable and its business performance has increased substantially year-on-year.
In the first half of the year, China Petroleum produced a total of 425 million barrels of crude oil, an increase of 1.7% year-on-year. The increase in output was the highest year-on-year in recent years; the production of saleable natural gas was 1.15 trillion cubic feet, a year-on-year increase of 12.9%. Total oil and gas production reached 617 million barrels of oil equivalent, an increase of 4.9% year-on-year. The exploration and production segment achieved operating profit of 73.37 billion yuan, an increase of 94.9% year-on-year, and continued to maintain its profitability pillar status.
In the first half of the year, CNPC intensified its oil refining production organization, optimised the allocation of crude oil, adjusted the refining processing volume in a planned manner in accordance with market changes, and maintained a processing load of over 90%. A total of 439 million barrels of crude oil were processed, a year-on-year increase of 12.8%. The output of chemical products reached 9.056 million tons, a year-on-year increase of 10.6%. However, due to the impact of rising crude oil prices, the profitability space for refineries was narrowed, and the operating profit of the refining and chemical sectors was 5.46 billion yuan, a decrease of 68.3% year-on-year.
The sales volume of refined oil products increased in volume and efficiency, and the market share increased steadily. In the first half of the year, refined oil sold 59.52 million tons, an increase of 26.6% year-on-year; of this, domestic sales of refined oil products was 49.25 million tons, a year-on-year increase of 17.6%. The domestic retail market share increased by 2.9 percentage points to 38.1%. During the period, the sales segment realized operating profit of 7.53 billion yuan, a year-on-year increase of 3.3%.
In the first half of the year, PetroChina made new progress in expanding overseas oil and gas exploration. Its overseas operations achieved a net oil and gas production of 55.2 million barrels of oil equivalent, an increase of 8.3% year-on-year, accounting for 8.9% of the company's total production.
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