Its average selling price of oil rose 26 percent over 2003 to $35.41 a barrel. It said it produced 4.5 percent more oil at 116.9 million barrels while output of natural gas surged 25.5 percent to 133.3 billion cubic feet.
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CNNOC Profit Surged
China National Offshore Oil Corporation said Tuesday its 2004 profit surged
China National Offshore Oil Corporation said Tuesday its 2004 profit surged 40 percent to a record $1.96 billion on higher oil prices and an increase in oil and gas production.
The country?s largest offshore oil producer said in a statement it "achieved a remarkable growth in oil and gas production and reserves in 2004."
Its average selling price of oil rose 26 percent over 2003 to $35.41 a barrel. It said it produced 4.5 percent more oil at 116.9 million barrels while output of natural gas surged 25.5 percent to 133.3 billion cubic feet.
Its average selling price of oil rose 26 percent over 2003 to $35.41 a barrel. It said it produced 4.5 percent more oil at 116.9 million barrels while output of natural gas surged 25.5 percent to 133.3 billion cubic feet.
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