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PetroChina Reports Record Crude Oil Output in 2005

Posted on: Tuesday, 10 January 2006, 09:00 CST

PetroChina reports record crude oil output in 2005

BEIJING, Jan. 9 (Xinhua) -- PetroChina Company Limited, a holding company of the China National Petroleum Corporation (CNPC), China's largest oil producer, achieved a record crude oil output of 105.75 million tons in 2005, according to sources with the official website of CNPC.

According to the website, www.oilnews.com.cn, on Thursday, PetroChina achieved a record annual increase of crude oil output of 1.29 million tons in 2005.

The crude oil output in self-operated zones turned the dropping trend for the first time since the company was listed and reported an annual increase of 700,000 tons, said the website.

The Daqing Oilfield in northeastern Heilongjiang Province remained the major oil producer of PetroChina last year with an output of 44.95 million tons.

The Changqing Oilfield in Western China's Shaanxi Province boasts the top increment of 1.31 million tons of PetroChina with its total output reaching 9.42 million tons.

The Tarim Oilfield in northwestern Xinjiang Uygur Autonomous Region saw an output increase of 620,000 tons and the Xinjiang Oilfield, also in the autonomous region, kept its annual growth of over 500,000 tons for the third year.

In 2005, PetroChina saw more than 500 million tons of new proven reserves and an annual increase of production capacity of over 12 million tons, said the website.

CNPC is the controlling shareholder of PetroChina, holding about 88.21 percent (Note) of the issued share capital of the company.

Source: Xinhua News Agency - CEIS

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