Latest News:  
Beijing   Sunny/Overcast    20 / 13   City Forecast

Home>>China Business

China's three oil giants make up 31.74 pct of SOE profits in 2010

(Xinhua)

13:20, October 22, 2011

BEIJING, Oct. 22 (Xinhua) -- Net profits of China's three oil giants accounted for 31.74 percent of SOEs' total net profits made in 2010, according to a report released on Friday by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council, the nation's cabinet.

Net profits of all state-owned enterprises, or SOEs, last year climbed 42.8 percent from a year earlier to 852.27 billion yuan (133.56 billion U.S. dollars), the SASAC said in the report.

Three oil giants, China National Petroleum Corporation (CNPC), Sinopec Group and China National Offshore Oil Corporation (CNOOC), achieved total net profits of 270.54 billion yuan in 2010, up 47 percent from a year earlier.

Profits of the three companies boosted as they had stepped up oil and gas production and actively explored overseas markets. Meanwhile, surging oil prices in 2010 had also promoted their profitability.

Email|Print|Comments(Editor:姚春)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Tunisians wait in peace for first election after unrest

  2. Beijing concert of Three Chinese Tenors World Tour

  3. Obama announces U.S. to pull out all troops from Iraq by end of year

  4. China's PLA Navy "Peace Ark" hospital ship arrives at Havana, Cuba

Most Popular

Opinions

  1. China's GDP: Quality vs. quantity?
  2. What does Clinton's 'Pacific Century' mean?
  3. Chinese should see warning in Western demos
  4. EU, US crises taking toll on China's GDP
  5. Time right to develop S China Sea resources
  6. Hidden motives lie behind US mission to Uganda
  7. Japan PM: Japan's security environment 'murky'
  8. US, not China manipulates exchange rate
  9. What is wrong with US?
  10. Chinese culture of peace promotes development

What's happening in China

Kite festival held in Daishan, China's Zhejiang

  1. Land prices appear to be falling in China
  2. Rescues show caring nature of passers-by
  3. War museum sees red over Hello Kitty photo
  4. Groundwater gets worse, land agency says
  5. Migrants eligible for capital's govt housing

PD Online Data

  1. Customs of Mid-Autumn Festival in Xiamen
  2. Custom of Mid-Autumn Festival in Shanghai
  3. Custom of Mid-Autumn Festival in Hong Kong
  4. Customs of Mid-Autumn Festival in Guangzhou
  5. Customs of Middle-Autumn Festival in Old Beijing