Analysts: Good outlook for CNPC

Energy giant's net profit soared 16 times higher than expected during H1

Analysts believe the outstanding performance of China National Petroleum Corporation, the nation's largest oil producer and supplier, is expected to continue in the next six months, after its net profit soared 16 times higher than expected during the first half of 2017.

According to an early announcement on earnings released by the company on Wednesday, net profit in the first six months of this year is expected to reach nine billion yuan ($1.33 billion) to 11 billion yuan, up 1,600 percent to 1,986 percent, compared with 528 million yuan during the same period last year.