CNPC crude output rises 8.9pc
The overseas projects of China National Petroleum Corp (CNPC), parent of listed PetroChina, produced 75.82 million tonnes of crude oil last year, up 8.9 per cent from 2009, Xinhua reported. Overseas natural gas output surged 67 per cent to 13.7 billion cubic metres last year. The energy giant aims to have half its total oil and gas output come from overseas projects by 2015, and the other half from domestic ones. By the end of last year, CNPC had eight oil refineries overseas that are in operation or under construction, with a combined annual processing capacity of 16.6 million tonnes.