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CNPC increases production

January 20/2014

MOSCOW (MRC) -- China National Petroleum Corporation (CNPC) posted a rise in output during 2013, driven mainly by an increase in overseas production, said Upstreamonline.

China's Xinhua news agency reported the company's output had risen 10.2%, compared to 2012, to 306.65 million tonnes of oil equivalent.

It added that the increase was largely due to an 18.1% increase, year-on-year, from overseas production which totalled 123 million tonnes of oil equivalent.

CNPC is planning to further increase production this year to 329.67 million tonnes of oil and gas Xinhua reported, citing CNPC general manager Liao Yongyuan.

The news agency also reported that trade volumes from CNPC's operating centres in Europe, Asia and North America increased 10.9%, compared to 2012, to USD266 billion in 2013. As MRC wrote before, Moody's Investors Service has changed the outlook of China National Petroleum Corporation's (CNPC) from positive to stable.

China National Petroleum Corporation (CNPC) is the largest oil & gas company in China in terms of reserves and production. It is wholly owned by the government, and is the largest state-owned enterprise in terms of assets, and second-largest in terms of revenue. Its oil & gas reserves of 23 billion boe and production of 1.67 billion boe also position it among the top five integrated oil and gas companies in the world.
Author:Anna Larionova
Tags:gaz, oil, gazopererabotka, neftehimiya, CNPC, China.
Category:General News
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