PetroChina Changqing Output to Surge 46%

   Date:2007/10/19     Source:

PetroChina Co, the nation's biggest oil and gas producer, will increase output from Changqing, its fourth-largest oilfield, 46 percent by 2009, said parent company China National Petroleum Corp.

Output at the field in northwestern China will reach the equivalent of 30 million metric tons (about 602,000 barrels a day) in 2009 from 20.5 million tons this year, the Beijing-based parent said in a statement on its Website yesterday, citing Changqing Oilfield Co President Wang Daofu.

PetroChina is expanding production to meet increased demand. The nation's oil demand will rise 5.7 percent to 7.6 million barrels a day this year and gain 5.6 percent next year, the International Energy Agency said on October 11.

Oil and gas production capacity has been growing by as much as three million tons a year for seven consecutive years at Changqing, Wang was cited as saying in the statement.

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