Since the conflict between Russia and Ukraine, international oil prices have been rising all the way. Even if there are short-term fluctuations, they are still bullish in the long term. Under such circumstances, my country’s two major oil giants, PetroChina and CNOOC, have also benefited greatly.
On August 25, the “two barrels of oil”, PetroChina and CNOOC, successively announced their revenue reports for the first half of 2022. Statistics show that in the first half of 2022, the total net profit of “Two Barrels of Oil” exceeded 150 billion yuan, setting a record, which is almost the same as the total net profit for the whole year of 2021.
Specifically, from January to June this year, PetroChina’s operating income reached 1,614.621 billion yuan, an increase of 34.9% compared with the same period in 2021; the net profit attributable to shareholders of the parent company was 82.391 billion yuan, an increase from last year 55.3%. After PetroChina announced its revenue report, CNOOC was not far behind. Published data shows that CNOOC’s operating income from January to June this year was approximately 202.355 billion yuan, an increase of 84% compared with the same period last year; its net profit after return to the parent company reached 71.887 billion yuan, compared with the same period last year, A sharp increase of 116%.
PetroChina’s net profit was 82.4 billion yuan and CNOOC’s net profit was 71.9 billion yuan. Based on the 180-day standard in the first half of the year, the “two barrels of oil” made a net profit of more than 400 million yuan every day; based on the total net profit of 150 billion yuan, After all, the two companies made a net profit of 850 million yuan a day, which is comparable to a money printing machine.
It is understood that there are two reasons why the performance of “Two Barrels of Oil” in the first half of the year hit the highest record in history. On the one hand, it is because of the sharp rise in international oil prices, and on the other hand, it is because of the efforts of the company. The director of PetroChina said: “Amidst unfavorable factors such as the unstable international situation and reduced consumer demand, the company has made concerted efforts and made new progress in production and operation in an orderly manner. Our output has reached the best level and our costs have also improved. has been effectively reduced.”
For CNOOC, the positive effect of rising international oil prices is even more obvious. In addition, thanks to the company’s efforts, CNOOC’s oil and gas production also hit a record high of 3.048 million barrels, a year-on-year increase of 9.6%. The company also achieved net production overproduction in overseas projects.
However, as a state-owned enterprise, no matter how much money it makes, it must ultimately take into account the interests of the country, the company, and its employees. As the saying goes, “A wave of your sleeves will not take away a single cloud.” It is foreseeable that the 150 billion yuan net profit from “Two Barrels of Oil” will eventually be used by the country to benefit the people and return to the people themselves.
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