PetroChina Co. Ltd. pumped 8 percent more oil and gas in the third quarter of 2006, as the world's fifth-largest crude oil producer by market value ramped up output of gas amid a steady slide in global prices.

Asia's largest oil company's said on Oct 16 that its oil and gas output hit 260.7 million barrels of oil equivalent (BOE) from July to September, versus a previously reported 241.6 million BOE in the year-ago period.

That compared with a 2006 target of 5 percent growth in global energy output for the state-run firm, which accounts for three-fifths of the country's domestic oil production. The oil titan put out 1.034 billion BOE in 2005, a rise of 5.5 percent.

PetroChina, which pumps, refines oil and sells petroleum and petrochemical products, said in a statement that its oil selling price increased nearly 30 percent to $61.50 in the first nine months.

The Beijing-based firm, which vies with Sinopec Corp. and CNOOC Ltd. to supply the world's largest energy market after the United States, had profited in the first half from soaring global oil prices.

But international crude prices began heading south from August, hitting a 10-month low last week.

Still, crude production from PetroChina's oilfields worldwide from July to September rose 4.1 percent to 207 million BOE.

But output of gas leapt 25 percent to 322.4 billion cubic feet in the quarter.

Source:佚名