Profit Strategy of CNPC's Overseas Business in a Oil Price Downturn

• 来源期刊: 中国油气（英文版）
• 年，卷（期）: 2017,（1）
• 页码范围: 40-41
• 页数: 2页
• 语种: 英文

摘要

In 2016,CNPC managed to achieve a profit even despite the fact that the international oil price was lingering at a decade low.This was the third year in a row for the group to gain profit.Moreover,2016 was a year that marked significant gains for both CNPC's operational and non-operational business,and the company also did excellent work in terms of international trading,yielding positive results in both revenue and profit.It is also worth praising the outstanding profit-earning performance of the overseas service sector (engineering techno logy service,construction and equipment exports) under such a gloomy oil price background,as in 2016 crude futures were down 15.8％ for Brent oil and 10.86％ for WTI oil as compared to 2015.CNPC's three key international sectors,i.e.overseas investment,international trade and oilfield services,all achieved profit and combined,accounted for 80％ of the group's total profit.