trending Market Intelligence /marketintelligence/en/news-insights/trending/j1UO4xGObH3yNpr3YE0Akw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Exploration, production unit drives PetroChina net profit 131% higher in 2018

A Utility Company Efficiently Sharpens Its Focus on the Credit Risk of New Customers

S&P podcast - Coronavirus pandemic, oil price crash shake up energy sector

Case Study: A Utility Company Efficiently Sharpens Its Focus on the Credit Risk of New Customers

Energy Evolution Podcast

Energy Evolution Why solar energy could get even cheaper


Exploration, production unit drives PetroChina net profit 131% higher in 2018

PetroChina Co. Ltd. said March 21 that its net profit attributable to owners of the company surged 130.7% to 52.59 billion Chinese yuan in 2018, compared with 22.80 billion yuan a year ago, driven by exploration and production.

Based on International Financial Reporting Standards, the company saw revenue of 2.35 trillion yuan in 2018, topping 2.02 trillion yuan a year earlier.

Net income from operations totaled 121 billion yuan, up 78.7% from a year earlier.

The company's exploration and production unit reported a profit of 73.52 billion yuan, well above the 15.48 billion yuan reported a year earlier.

The natural gas and pipeline business had an income of 25.52 billion yuan, up by 9.83 billion yuan from a year ago.

Refining and chemicals profited 42.76 billion yuan, while marketing saw a loss at 6.45 billion yuan.

Crude oil output climbed 0.4% year over year to 890 million barrels, while marketable natural gas output grew to 3.6 trillion cubic feet, up 5.4% from a year ago.

Oil and gas equivalent output rose to 1.49 billion barrels, which includes 200 million barrels from overseas operations.

As of March 20, US$1 was equivalent to 6.69 Chinese yuan.