By Ronnie Harui


Kunlun Energy Co.'s net profit for the first half of 2022 rose 19% from a year earlier, owing to increased natural-gas sales volume.

Net profit increased to 3.080 billion yuan ($450.62 million) in the January-to-June period from CNY2.596 billion for the same period a year earlier, the company said in a filing to the Hong Kong Exchange on Tuesday. Revenue grew to CNY83.86 billion in the first half from CNY64.74 billion for the same period a year ago.

The integrated energy company said it will expand and strengthen the fundamentals of its core business and continue to optimize resource channels, market layout and user structure, as well as accelerate the deployment of its integrated energy business.

Kunlun Energy said it will carefully learn from the lessons of accidents in the first half, and systematically eliminate risks in the urban gas field with its focus on transformation of the old pipeline network. The company added it will set up a management risk prevention and control matrix, and will promote real-time collection and comprehensive integration of data across entire business chain.


Write to Ronnie Harui at ronnie.harui@wsj.com


(END) Dow Jones Newswires

08-23-22 2015ET