In-depth Analysis of Profits at China's Big Three Oil Companies

China’s big three oil companies–China National Petroleum Corporation(CNPC),China Petrochemical Corporation(Sinopec)and China National Offshore Oil Corporation(CNOOC)–have been challenged over the past year by the fall in oil prices and increased competition,because lower crude oil prices will materially reduce profits and cash flows for the national oil companies.They are learning to live with idea that

China＇s big three oil companies - China National Petroleum Corporation （CNPC）, China Petrochemical Corporation （Sinopec） and China National Offshore Oil Corporation （CNOOC） - have been challenged over the past year by the fall in oil prices and increased competition, because lower crude oil prices will materially reduce profits and cash flows for the national oil companies. They are learning to live with idea that crude prices may not recover soon.