Email Us

PetroChina Achieved Net Profit Of 27.7 Billion Yuan In The First Quarter!

PetroChina Achieved Net Profit Of 27.7 Billion Yuan In The First Quarter!

On April 29, China national petroleum co., LTD. (hereinafter referred to as the "company"), announced the first quarter of 2021, the company seize the macro economic recovery and rebound in demand, etc. The opportunity is favorable for oil and gas market, optimizing the production run, vigorously strengthen market development and continuous deepening quality efficiency and operating performance to achieve good start and the best level in nearly seven years in the same period.

Production and sales of major products increased.

The company produced 373 million barrels of domestic oil and gas equivalent, an increase of 4.3% over the same period last year.

Domestic marketable natural gas production was 1.12 Tcf, up 9.6% year on year.

The commodity volume of chemical products reached 7.381 million tons, up 10.8% year on year.

The sales volume of domestic refined oil products was 24.195 million tons, up 20.9 percent year on year.

Domestic sales of natural gas were 54.655 billion cubic meters, up 14.6 percent year on year.

Key cost indicators continued to decline.

Operating costs per unit of oil and gas, excluding the impact of currency changes, decreased by 8.0%.

Refining unit cash processing costs fell 8.2 per cent year on year.

Operating efficiency increased significantly compared with the same period last year.

According to IFRS, in the first quarter of 2021, the company achieved an operating revenue of 551.923 billion yuan (RMB, the same below), an increase of 8.4% year on year;

Net profit attributable to shareholders of the parent company was 27.721 billion yuan, the best level in the same period in nearly seven years.

Short comment:

China's oil industry income increase means that the oil market demand increases, more need to import oil and imported oil barrels, is a good opportunity for foreign enterprises to seize the Chinese market.

High quality and good-looking steel drum packaging is one of the ways to prevent oil spills, such as drum closure, drum cap seals, alu cap seals of oil drum.

Popular Drum Barrel Fittings

Related Drum Accessories and Fittings News & Blog

  • Packaging Industry Outlook In ChinaPackaging Industry Outlook In ChinaJuly 1, 2022Since the informatization was taken as the key point of the development strategy of the manufacturing industry in 2015, the Chinese government has actively promoted the implementation of relevant poli...view
  • Innovative Tab Seal Designs and Technologies in the Drum IndustryInnovative Tab Seal Designs and Technologies in the Drum IndustryJanuary 18, 2024In today's fast-paced world, innovation is the key to success in any industry. The drum industry is no exception, as manufacturers constantly strive to create unique and innovative products that e...view
  • Reformation Measures Before TreatmentReformation Measures Before TreatmentJuly 4, 2022As we all know, steel drum industry, container industry belongs to such as sheet metal is spoken by the largest number of production enterprises. But before finishing condition is not very ideal, espe...view
  • Two Ways to Achieve Drum Protection During Painting and Baking ProcessTwo Ways to Achieve Drum Protection During Painting and Baking ProcessJanuary 3, 2023With the continuous improvement of modern production technology and stricter requirements for production quality, factors such as enterprise labor costs, environmental protection requirements, and pro...view
  • The Process of the Drum flangeThe Process of the Drum flangeMay 26, 2023The production process is mainly divided into forging, casting, cutting, rolling these four kinds. (1) Casting flange and forging flangeCasting out of the flange, blank shape size is accurate, process...view
  • The Meaning Of Bolt Performance GradeThe Meaning Of Bolt Performance GradeJuly 4, 2022The number on the bolt refers to the strength level. For example, the number 4.8 means that the strength level of the bolt is 4.8, and its shear stress is 4.8 GPa. According to regulations, bolts with...view
No.58 Qinjian Road, Hengshan Industrial Park, Shouchang Town, Jiande City, Zhejiang Province, China