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CNPC profits halved in 2015

Xinhua, April 27, 2016 Adjust font size:

China National Petroleum Corp. (CNPC), the country's largest oil and gas producer, said on Wednesday that its profits slumped 52.4 percent year on year to 82.47 billion yuan (12.73 billion U.S. dollars) in 2015.

Revenues stood at 2 trillion yuan, down 26.1 percent from a year earlier. Total assets hit 4.03 trillion yuan at the end of December, according to CNPC's 2015 Social Responsibility Report.

The oil supplier said it paid 338.1 billion yuan in taxes and fees last year.

CNPC produced 260 million tonnes of oil and gas equivalent at home and abroad in 2015, up 1.8 percent from 2014. Its domestic crude output reached 110 million tonnes, accounting for 52.3 percent of China's total production. Gas output hit 95.48 billion cubic meters, making up 72.7 percent of the country's total.

The corporation discovered 730 million tonnes of new crude deposits and 570.2 billion cubic meters of natural gas in 2015, according to the report. Endi