Thursday, March 27, 2008

PetroChina overseas oil output exceeds 60 mln tons in 2007

PetroChina<601857><857>, the nation's top oil producer, said its overseas output of crude oil breached 60 million tons last year, booking a year-on-year rise of 10.2%.

In its latest statement on social responsibility, the company said oil exploration and production have been largely boosted in 2007 as it poured huge investment into technology innovation.

It produced 5.4 billion cubic meters of natural gas from its overseas plants, up 7% from a year earlier.

In domestic market, it refined 120 million tons of crude oil and sold oil products of 82.8 million tons in 2007, leaping 10.1% year on year, which greatly ensured market supply in spite of a big loss in its refinery business, the statement said.

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