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Ma Fucai: Sustained Profit Increase in PetroChina This Year.

Publication: China Chemical Reporter
Publication Date: 16-MAY-01
Format: Online
Delivery: Immediate Online Access
Full Article Title: Ma Fucai: Sustained Profit Increase in PetroChina This Year.(Brief Article)(Statistical Data Included)

Article Excerpt
According to PetroChina Chairman Ma Fucai, although the 1.05 times drastic increase of the net profit last year is mainly attributed to the oil price rise in the international market, the oil price this year will be maintained at 25 U. S. dollars per ton as in the first quarter. The company will further reduce cost and the profit to be reaped this year will not be less than last year.

Oil price rise and cost reduction

Ma Fucai points out that besides the oil price rise, factors for the drastic net profit increase in PetroChina last year also included the reduction of cost, the loss reversion in oil refining operations and the improvement in...

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