File photo shows a PetroChina staff working on a purification equipment in an oil-gas reservoir in Suining, southwest China's Sichuan Province. (Xinhua/Zhong Min)
BEIJING, March 26 (Xinhua) -- PetroChina Company Limited (PetroChina), one of the largest oil and gas producer and distributor in China, reported better-than-expected performance in 2020, according to the company's website.
Facing the unprecedented severe impacts and challenges including the COVID-19 and cliff-like drop in international oil prices, the company maintained the "stable and controlled" advancement of production and operation, said the announcement.
In 2020, the company raked in a total revenue of over 1.93 trillion yuan (about 152.9 billion U.S. dollars), and the net profit stood at 19.0 billion yuan, down 23.2 percent and 58.4 percent year on year, respectively. Despite the decline, "the financial position of the group remained stable," said an announcement on the company's website.
Last year, PetroChina reported 1,409.7 million barrels of equivalent equity production of oil and gas at home, up 4.8 percent year on year.
Overseas production also saw steady growth during the same period, with the company's oil and natural gas equivalent output amounting to 215.8 million barrels, up 0.2 percent year on year, accounting for 13.3 percent of the total oil and natural gas equivalent output of the company.
It is also noted that the company successfully completed the pipeline assets restructuring last year.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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