China Oil And Gas Group Limited provided consolidated earnings guidance for the year ended December 31, 2014. For the period, the group is expected to record a decline in consolidated net profit as compared with the consolidated net profit for the year ended December 31, 2013. The board considers that the group's financial performance has been affected mainly by the reason that the PRC National Development and Reform Commission increased the city gate natural gas price, but the Xining government in Qinghai Province has not instantly approved to adjust the downstream tariff.