Energy

Changqing crude output to exceed 18m tons in 2010

(Xinhua)
Updated: 2010-07-01 10:38
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XI'AN - PetroChina's second-largest oil and gas subsidiary, Changqing Oilfield, will raise its crude output by 14.5 percent to 18 million tons this year, the company said Wednesday.

PetroChina is the listed arm of China National Petroleum Corporation (CNPC), the country's largest oil producer and supplier.

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The oilfield's daily crude output hit 50,041 tons Tuesday, breaking the 50,000-ton mark for the first time. It broke the 40,000-ton mark in June 2008.

Its natural gas output is expected to exceed 20 billion cubic meters this year, up from 19 billion cubic meters in 2009.

Total crude and gas output in 2010 is expected to amount to more than 35 million tons of oil equivalent, up from 30.8 million tons last year.

Changqing oilfield plans to increase its output to 50 million tons of oil equivalent in 2015, including 26 million tons of crude and 35 billion cubic meters of gas.