March 23, 2016 - 10:12 PM EDT
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PetroChina 2015 Net down 66.7%

, March 24, SinoCast -- PetroChina made CNY 35.6 billion net profits in 2015, down 66.7% year on year; this was the first time net profits were less than CNY 100 billion since the company got listed 16 years ago.

The profit decline was mainly resulted from profit decrease of prospecting business. The company's prospecting and production business saw operating profits plunge CNY 152.9 billion last year; main business incurred CNY 12.9 billion losses in the fourth quarter last year.

Natural gas and pipeline business achieved CNY 51.23 billion operating profits, up CNY 15.30 billion deducting CNY 22.81 billion investment incomes from some pipeline assets integrations. PetroChina's oil and gas pipelines reached 77,162 kilometers long at home by 2015 end.

PetroChina produced 806.3 million barrels of crude oil and 2.9 trillion cubic meters of salable natural gas, down 2.1% and up 0.8%.

Refining and chemical business processed 998.1 million barrels of crude and produced 91.93 million tons of refined oil; it made CNY 4.88 billion operating profits.

Sales business incurred CNY 500 million operating losses last year.

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Source: News (March 23, 2016 - 10:12 PM EDT)

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