According to the annual report released by the oil and gas company PetroChina, its net profit at the end of last year was 92.17 billion yuan, jumping almost 5 times in twelve months. Its volume was the highest since 2014 due to a sharp increase in oil prices. At the end of the reporting period, the Chinese company’s revenue reached 2.614 trillion yuan, an increase of 35.2% over the previous year. Over the past year, it has increased gas and oil production by 3.4%. The company produced 753.4 million barrels of oil from fields within the country, up 1.3% from a year earlier. Natural gas production was 4.222 trillion cubic feet. Over the year, the indicator increased by 5.7%. At the same time, in its annual report, PetroChina announced plans to reduce capital expenditures this year to 242 billion yuan from 251 billion yuan last year. Over the past twelve months, the shares of the oil and gas company in Hong Kong have risen by 45%.