China’s upstream giant has managed to increase its revenue last year by 6% to 2.52 trillion yuan ($360 billion), with net profit recorded at 121.76 billion yuan.

The company said in a statement that that crude production last year rose by 2.1% on year to 909 billion barrels, with gas volumes available for sale reaching 3.91 trillion cubic feet, up 8.3% on year.

Of the total profit last year, 96 billion yuan was earned from the upstream sector, up 31% year-on-year. The per barrel operating cost went down by 1.6% on year to $12.11.