China Oil & Gas Extraction Industry's Profit Down 6,1% in Jan-Oct
OREANDA-NEWS. December 17, 2013. China's petroleum and natural gas extraction industry recorded a gross profit of RMB 325.72 billion in the first ten months of this year, reflecting a decline of 6.1% year on year, according to the latest data released by the National Bureau of Statistics.
Profit from core business decreased 8.8% year on year to RMB 341.19 billion from Jan to Oct.
The industry saw its core business revenue fall 1.6% year on year to RMB 2.65 trillion in the ten-month period.
In the first ten months of this year, China's crude oil output rose 2.1% year on year to 173.05 million metric tons, and its output of natural gas reached 95.9 billion cu m, 9.2% more than in the same period of last year.