On August 13, CNOOC announced the company's profit in the first half of 2004 topped 10 billion yuan while the slaes income exceeded 30 billion yuan. The offshore oil giant has set an ambitious target to build itself into an integrated energy enterprise with international competitiveness by 2008. With the production and business smoothly under way, the oil and gas outputs both inside and outside China approached 18 million tons in the first half of this year, a 4 percent increase over the same period of last year.
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