CNPC Announces Output Figures

16 July 2009 (Last Updated July 16th, 2009 18:30)

China National Petroleum Corporation (CNPC) has announced production figures of 51.04 million tonnes, or 2.06 million bpd of crude in the first half of this year. The company processed 58.76 million tonnes during the same period while crude output at overseas wells totalled 31.39 million

China National Petroleum Corporation (CNPC) has announced production figures of 51.04 million tonnes, or 2.06 million bpd of crude in the first half of this year.

The company processed 58.76 million tonnes during the same period while crude output at overseas wells totalled 31.39 million tonnes.

Gas production hit 3.9 billion cubic metres, according to state news agency Xinhua, citing CNPC's general manager and chairman of listed PetroChina Jiang Jiemin.

Jiang has also been quoted as saying that Chinese oil companies and consumers were increasingly affected by the international oil futures market.

CNPC plans to double its oil and gas output to 400 million tonnes of oil equivalent in eight to ten years and raise oil and gas production in overseas fields it operates to half that level.