Slumping Crude Hurts CNPC Profits

The video discusses Petro China's financial performance, highlighting a significant drop in earnings due to volatile oil prices. It compares Petro China's situation with Sinopec, noting differences in profitability due to downstream operations. The video also covers Petro China's earnings and output changes, correlating these with oil price trends. Finally, it addresses upcoming reforms in the oil industry, particularly for CNPC, and their impact on the workforce.

What was the percentage drop in PetroChina's full-year earnings?

• 26%

• 30%

• 67%

• 52%

How did Sinopec's performance compare to PetroChina's in terms of profitability?

• Sinopec had a larger decline in earnings

• Sinopec's earnings increased

• Sinopec's earnings remained stable

• Sinopec's decline was not as severe

What was the average price of crude oil per barrel last year?

• $70

• $99

• $54

• $30

What is the estimated number of employees at CNPC?

• 100,000

• 500,000

• 1.52 million

• 10,000

What is one of the potential restructuring plans for CNPC?

• Acquiring new oil fields

• Increasing frontline workers

• Spinning off the oilfield services unit

• Merging with Sinopec