PetroChina Company Limited has recorded a consolidated net profit of RMB81.83 billion for the six months ended 30 June 2007, representing an increase of 1.4% compared with the same period last year.
Earnings per share reached RMB0.46, which was approximately RMB0.01 higher than that for the same period of 2006. For the six months ended June 30, 2007, the company recorded a turnover of RMB392.73 billion, representing an increase of 20.3% from the same period last year. Half year operating profit reached RMB109.13 billion, recording a decrease of 5.3% from the same period last year.
The decrease in operating profit was due to various factors, including the special levy imposed by the state, increased safe production expenses, the company’s business expansion and the surge of the nation’s commodity prices.
During the first half of 2007, the company’s exploration and production segment recorded an operating profit of RMB96.44 billion, which was RMB28.02 billion lower than that of the same period in 2006. This was due to the decrease in crude oil price, the increase in purchase expenses and the special levy imposed by the state.