CITIC Resources Holdings Ltd, a unit of China's fourth-largest oil producer, said 2007 profit rose 41 percent as the nation's demand for natural resources, including metals, coal and oil increased.

Net income climbed to HK$282.8 million (US$36 million), or 5.61 Hong Kong cents a share, from HK$201 million, or 4.61 cents a share a year earlier, the firm said in a statement to the Hong Kong stock exchange yesterday. Sales rose to HK$10 billion from HK$6.8 billion.

The metals producer is turning into a supplier of oil to capitalize on rising energy demand.

(Shanghai Daily April 21, 2008)