|
BIZCHINA> Top Biz News
![]() |
|
Oil firms to see robust earnings
By Xiao Wan (China Daily)
Updated: 2009-07-24 08:04 China's two oil majors will see robust growth in earnings this year, chiefly due to the new oil pricing system and more stable crude prices, analysts said. When their interim reports for the half-year are released, PetroChina and Sinopec are expected to perform better, especially in their refining businesses, than during the same period last year, they said.
China's stimulus package for the petrochemical industry will also give the two companies a boost, Liu added. According to Gordon Kwan with Mirae Assets, PetroChina is expected to see profits of 8 billion yuan ($1.17 billion) in the first half. The company earlier said its refining business made record high profits in the period since it was listed, without providing details. As for Sinopec, the country's largest refiner, it would see over 100-percent growth in profit this year, said Liu. According to the National Development and Reform Commission, China's refineries made a combined profit of 45.4 billion yuan in the first five months, compared with a loss of 57.2 billion yuan in the same period last year. (For more biz stories, please visit Industries)
|
|||||
普定县| 安仁县| 鄂托克前旗| 河北省| 临安市| 吉木乃县| 旬阳县| 黔南| 延寿县| 来安县| 长寿区| 香港 | 泗洪县| 福州市| 大埔县| 龙陵县| 禹城市| 昂仁县| 商水县| 金秀| 临沧市| 夹江县| 罗山县| 抚顺市| 襄垣县| 乐山市| 赞皇县| 武穴市| 敦煌市| 咸丰县| 遵义市| 禄劝| 景谷| 长治市| 玉田县| 天津市| 酒泉市| 中方县| 黄浦区| 延庆县| 安义县|