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CNOOC's Profit Topped 10b Yuan in 2000
China National Overseas Oil Corporation (CNOOC) announced its gross income in 2000 was 24.2 billion yuan and the profit was 10.3 billion yuan, up 58 percent and 150 percent respectively from the previous year.
The company's profit per share soared 136 percent from 0.69 yuan in 1999 to 1.63 yuan in 2000.
CNOOC's chairman Wei Liucheng attributed the sharp growth first to the increase of oil prices. The second reason is that the company exploited two oil fields. Meanwhile, it discovered five new oil fields in Bohai Bay last year.
Source: Panorama
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