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CNPC oil equity output booms in H1

Chinese state-owned giant, CNPC, has reported healthy growth abroad.

17_cnpc-logo - Peter B - peterbChina National Petroleum Corp (CNPC) has seen overseas equity oil output rise 4.6% in the first six months of 2012 to 25.3 million tonnes of oil equivalent.

From its numerous global projects, output in the Middle East showed the healthiest growth. Crude oil output at Iraq's Rumalia oil was 1.93 million tonnes above target at 12.06 million tonnes, according to an in-house report from the Asian giant.

Iraqi Al-Ahdab oil oilfield was also reported to have exceeded its production targets for the first half. In June, the company announced that the first phase of its Halfaya oilfield had begun operation at an impressive five million tonnes per year, or 100,000 barrels-per-day, capacity.

Elsewhere in the world, CNPC, parent of PetroChina, is also enjoying strong production growth. Projects in Kazakhstan, Singapore and Venezuela all exceeded production plans, although the company did not release official statistics.

Tags: China, China lubes news, CNPC, Corporate News, Middle East, PetroChina

Published 21st July, 2012

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