China's oil companies increased profits in 2018 by 32.1%


Chinese companies, involved in the extraction and processing of oil, in 2018, increased profits by 32.1%. As the Ministry of Industry and Information Technology of China reported, their profits grew more than the profit indicator of the country's industry as a whole, which increased by 10.3% during the year. The share of companies in the field of oil production and refining in the total revenue of all industrial enterprises in China was 12.7%. Their revenue reached 839 billion 380 million yuan. The ministry’s report also notes that companies have invested 6% more in last year’s production and refining of oil than in 2017.

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