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PetroChina aims to produce 25 mln tonnes crude oil each year at Changqing by 2020

November 13/2019

MOSCOW (MRC) -- Chinas top oil and gas producer, PetroChina, aims to produce 25 million tonnes of crude oil per annum and 42 billion cubic metres (bcm) of natural gas at its Changqing field by 2020, reported HellenicShippinNews with reference to the Gansu provincial government backed media reports, citing a company spokesman.

The spokesman said that the Changqing field also set a target of churning out 28 million tonnes per annum of crude and 45 bcm of gas by 2025.

Changqing, in the Ordos basin in Inner Mongolia, is Chinas biggest gas field.

PetroChina in September said in a statement that it found additional proved original oil in-place of 358 million tonnes at the Qingcheng oilfield in Gansu province.

As MRC informed earlier, in April 2019, LyondellBasell announced that PetroChina will use the LyondellBasell Hostalen "Advanced Cascade Process" technology to produce 1,100,000 metric tons per year of high density polyethylene (HDPE) capacity. Licensor selection had been done by China HuanQiu Contracting & Engineering Co., Ltd. (HQC), a wholly owned subsidiary of PetroChina. The low-pressure slurry process technology will be used for a 300,000-mt/year HDPE unit to be built in Korla City, Xinjiang Province, a 400,000-mt/year plant in Jieyang City, Guangdong Province and a 400,000-mt/year plant in Yulin City, Shaanxi Province in the P.R. China.

We also remind that PetroChina Co, Asias largest oil and gas producer, reported a sharp fall in third-quarter profit on Wednesday, dragged down by weaker global energy prices and slowing growth in its domestic gas market.

According to MRC's ScanPlast report, Russia's September estimated HDPE consumption fell to 70,570 tonnes from 108,320 tonnes a month earlier. Russian producers reduced their output due to maintenance works, whereas imports were high partially because of an increase in US shipments. The estimated HDPE consumption totalled 862,170 tonnes in January-September 2019, up by 7% year on year. HDPE imports increased by 47%, whereas production dropped by 5% due to a long period of maintenance works at three production capacities.

PetroChina Company Limited, is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation, headquartered in Dongcheng District, Beijing. It is China's biggest oil producer.


mrcplast.com
Author:Margaret Volkova
Tags:PE, crude and gaz condensate, HDPE, ethylene, petrochemistry, PetroChina, China, Russia.
Category:General News
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