China National Petroleum Corporation

CNPC arm gains

PUBLISHED : Monday, 22 September, 1997, 12:00am
UPDATED : Thursday, 11 June, 2015, 4:57pm

CNPC (Hong Kong) has turned around to make a net profit of $30.22 million in the first half, compared with losses of $5.7 million in the same period last year. The improvement was driven largely by strong output at one of its oil exploration projects in Xinjiang province. The company is the Hong Kong-listed vehicle of China National Petroleum Corp (CNPC), which has a monopoly over on-shore oil exploration and production in the mainland.