China Knowledge reported that Shaanxi Yanchang Petroleum Co Ltd, China fourth largest oil company as well as a state owned firm affiliated to Shaanxi Province booked more than CNY 6 billion in profit and about CNY 100 billion in sales revenue last year.

The oil firm saw its oil and natural gas output total 12 million tons in 2010, and it processed 12.7 million tons of oil and natural gas and sold 11 million tons of refined oil in the same year. From 2009 to 2010, the company added proven oil reserves of 185 million tons and gas reserves exceeding 120 billion cubic meters, and its annual average output of chemical products was more than 1.5 million tons.

Shaanxi Yanchang Petroleum also hopes to double its annual oil and gas output to 25 million tons by 2015.

(Sourced from China Knowledge)