May 16, 2013 (Chinavestor) The following information and analysis concerns Petrochina (NYSE:PTR), China Petroleum & Chemical Corp/Sinopec (NYSE:SNP) and China National Offshore Oil Corporation (NYSE:CEO) financial performance for the year ending 31-12-12.
Petrochina (NYSE:PTR) increased revenues 9.6% from 2011 to RMB 2195,296 million. This was attributable to a rise in average realised prices for products coinciding with an increase in sales volume. PTR reported net profits fell for 2012 by 13.3% to RMB 115, 326 million. An increase in operating expenses could be at the forefront of net profit decrease. The expenses amounted to RMB 1,821,382 million, an increase of 10.9% from 2011.