China National Petroleum Corp (CNPC) has set production targets of 143 million tonnes of crude oil and 16.5 billion cubic metres of natural gas for this year, the Xinhua news agency says. Last year, CNPC produced 143.2 million tonnes of oil and 17.17 billion cubic metres of natural gas. It did not say why oil and gas output was forecast to fall. State-owned CNPC said it planned to verify 600 million tonnes of oil reserves and 50 billion cubic metres of gas reserves this year.