Sinopec Oilfield Service Corporation provided earnings guidance for the six months ended June 30, 2017. For the period, the company expects that its loss for the six months ended 30 June 2017 will have a significant decrease as compared with the loss for the corresponding period of previous year, with a net loss attributable to equity shareholders of the company of approximately RMB 2,270 million in accordance with the PRC Accounting Standards for Business Enterprises. Basic loss per share is expected to be RMB 0.319. In the first half of 2017, as the international oil price gradually rebounded, the upstream capital expenditures on exploration and development of domestic and international oil companies increased as compared with the corresponding period of pervious year. However, the oilfield services industry was still facing challenges and uncertainties. Under such circumstances, the company has been vigorously expanding markets, which has brought an increasing operating revenue aligned with the increasing professional work volumes. Meanwhile, the company has been deepening internal reforms, strengthening fine management, and optimizing its operation and production, which has led to a decrease in expenses as compared with that for the corresponding period of previous year . As a result, the company estimated that the net loss attributable to the equity shareholders of the company is around RMB 2,270 million for the six months ended 30 June 2017 as compared with the corresponding period of previous year, representing a year-on-year decrease of RMB 2,240 million.