3 major oil companies performance differentiation CNOOC substantial growth

As of the evening of the 29th, the annual reports of China's three major listed oil companies China National Petroleum Corporation, China Petroleum & Chemical Corporation, and China National Offshore Oil Co., Ltd. have all been published. The annual report showed that the performance of the three major oil companies was hot and cold, and CNOOC’s net profit increased by nearly 30% to a record high. Sinopec was basically the same as last year, while CNPC’s net profit declined slightly.

According to the International Financial Reporting Standards, CNPC’s net profit for 2011 was 133 billion yuan, a year-on-year decrease of 5%. Sinopec’s net profit reached 73.2 billion yuan, up 2% year-on-year. CNOOC realized a net profit of 70.3 billion yuan, a substantial increase of 29% year-on-year. According to Xinhua News Agency, Beijing, March 30th (Editor: Zhao Shuang)

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