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23

China Oilfield Services Profit Up 98%

Business revenue rose 42 percent to 9.24 billion yuan last year

China Oilfield Services Limited's profits 2007 increased 98 percent on rising business revenue, the company said.

Net profits reached 2.24 billion yuan ($315 million), with earnings per share of of 0.54 yuan, the listed subsidiary of the country's largest offshore oil producer, China National Offshore Oil Corp said on the Shanghai Stock Exchange.

Business revenue rose 42 percent to 9.24 billion yuan last year, with revenue hitting record high in four of its main businesses, including drilling, marine and transportation, oilfield technology and geophysical survey, said the company.