China Petroleum and Chemical Corporation (Sinopec) (600028) produced a total of 156.93 million tons of crude oil during the first half of 2011, down 5.98 percent year-on-year, reports China Securities Journal, citing a company filing.
Domestic crude oil production grew 0.69 percent year-on-year to 150.22 million tons while production at the company’s facilities in Africa fell sharply by 62.13 percent to 6.71 million tons. Equipment checks on 18 blocks in Angola were the major reason for the decline.
Sinopec produced a total of 253.89 billion cubic meters of natural gas, an increase of 26.6 percent year-on-year.
The state-owned energy giant processed 108.53 million tons of crude oil in the first six months, up 4.96 percent year-on-year. Ethylene production rose 9.35 percent to 5.02 million tons.
It sold 75.1 million tons of refined oil domestically, an increase of 10.2 percent year-on-year.