Kunlun Energy 2022 Profit Edged Up on Higher Prices, Volumes of Gas
By Ben Otto
Kunlun Energy Co.'s net profit rose 1.7% in 2022, helped by higher selling prices and volumes of natural gas sold.
The Hong Kong-based company said late Tuesday that net profit from continuing operations rose to 5.23 billion yuan (US$760.8 million) from CNY5.14 billion in 2021.
Revenue from continuing operations in 2022 increased 24% to CNY171.94 billion, helped by higher natural-gas prices and volumes as the group boosted sales capacity with new projects, Kunlun Energy said.
Total volume of natural gas sales rose 7.1% to 44.99 billion cubic meters, with the number of users reached rising 6.3% to 14.7 million.
Write to Ben Otto at ben.otto@wsj.com
(END) Dow Jones Newswires
March 28, 2023 21:57 ET (01:57 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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