(Hc360.com, Dec 29, 2006) In 2005 Daqing Oilfield Co., Ltd, a wholly-owned subsidiary of China National Petroleum Corporation (CNPC), paid taxes up to 31.47 billion yuan, ranking firstly in China, and was followed by CNPC¡¯s listed arm PetroChina paying taxes more than 17.53 billion yuan. The two companies are hopeful to hit a new high in tax paying this year.

In the first eleven months of 2006, CNPC generated pre-tax profits of 173.1 billion yuan, registering a year-on-year increase of 15.7 per cent.

In the first half of 2006, CNPC generated pre-tax profits of 99.452 billion yuan, up 40 per cent on 2005. However, the domestic oil giant¡¯s profits in 2006 will be influenced by the Chinese government¡¯s collection of special petroleum proceeds. As of the end of June 2006, CNPC was levied about 10.48 billion yuan of special petroleum proceeds.
source:Hc360.com
Drawn from Chinese language press