Sales at China National Petroleum Corp (CNPC) reached one trillion yuan (HK$1.1 trillion) last year as the nation's largest oil and gas company and parent of listed PetroChina expanded its oil and gas production.
The oil giant passed the milestone despite difficult times highlighted by its suffering multibillion-dollar losses at its refining division because of Beijing's domestic fuel price controls.
CNPC's turnover rose 24.06 per cent to one trillion yuan, up from 879.1 billion yuan in 2006, the company said in its newly released corporate social responsibility report. It did not provide profit figures.
Its subsidiary PetroChina, which owns essentially all of CNPC's oil and gas exploration and production assets except those in politically sensitive countries such as Sudan, said on Wednesday that net earnings increased 2.4 per cent to 145.62 billion yuan.