PetroChina yesterday released the “worst” financial report since its listing. In accordance with International Financial Reporting Standards, PetroChina achieved a turnover of 1,725.428 billion yuan in 2015, a year-on-year decrease of 24.4%, the first decline since 2009. The net profit attributable to shareholders of the parent company was 35.517 billion yuan, only one-third of that in 2014. It went from a daily profit of 300 million to a daily profit of 100 million, the worst since it went public in 2007. 【600D Oxford cloth】
Crude oil production fell for the first time since 2009 strong>
China Petroleum said that the main reason for the decrease in profits was the nearly half drop in crude oil prices and the price of domestic refined oil and natural gas. Continuous downward adjustment.
Exploration and production business is PetroChina’s top priority and the root cause of its performance decline.
Last year, PetroChina’s domestic exploration and production business achieved crude oil production of 806.3 million barrels, a year-on-year decrease of 2.1%, and the first time since 2009 decline. Salesable natural gas production was 2.9036 billion cubic feet, a year-on-year increase of 0.8%. Oil and gas equivalent production was 1.2904 billion barrels, a year-on-year decrease of 1.0%, which was the first decline since its listing in 2007. This segment achieved operating profit of 33.961 billion yuan. In 2014, this figure was 186.897 billion yuan, 5.5 times that of 2015. 【Tent Oxford cloth】
What is equally painful is the downstream sales business. The financial report shows that 292 new gas stations were put into operation last year, and the number of operating gas stations reached 20,714. Although the sales business has made efforts to strengthen cost control and improve the efficiency of non-oil products business, due to the slowdown in domestic economic growth, weak market demand and other macro factors, the sales segment suffered an operating loss of 500 million yuan. In the previous year, this segment achieved operating profits of 5.421 billion yuan.
This year will continue to be difficult
In an era when international oil prices hover around US$40, but domestic production costs are much higher than US$40, the overall strong supply and weak demand in the world oil market will lead to the overall international oil price in 2016 If the downturn remains, the domestic oil industry will still have a hard time.
Since this year, PetroChina and China’s petroleum upstream industry have been struggling in the era of continued low oil prices. Liaohe Oilfield, Yanchang Oilfield, Shengli Oilfield, etc. have shut down oil wells in oil fields with poor performance, and news of salary cuts and layoffs are emerging one after another. In the first two months of this year, Daqing Oilfield lost more than 5 billion yuan. 【Oxford cloth wholesale】
Published by China Petroleum Enterprises Association and China Oil and Gas Industry Development Research Center The “2016 China Oil and Gas Industry Development Analysis and Prospect Report Blue Book” shows that in 2015, global GDP increased by 3.3%, and world oil consumption increased slightly compared to the previous year, reaching 94.4 million barrels per day. However, oil supply increased significantly compared with the previous year, reaching 96.1 million barrels per day, showing a situation of strong supply and weak demand.
In the new year, the global economic recovery situation is still unclear, especially in major emerging economies such as China, Brazil and Russia. The slowdown in economic growth will restrict the growth of global oil demand. OPEC member stoneStable oil supply and the continued prosperity of the U.S. shale gas revolution will further lead to excess crude oil supply, causing the overall international oil price to remain depressed in 2016.
To learn more about textile oxford cloth products, please click:www.wcxfz. com
</p
