Oil output of China’s top producer drops slightly, gas production increases 12% - April 20, 2003

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2003

Vol. 8, No. 16

Week of April 20, 2003

Oil output of China’s top producer drops slightly, gas production increases 12%

Petroleum News Staff

PetroChina, China's largest oil producer, said it produced 191.1 million barrels of crude oil during the first quarter of this year, down 1 million barrels from the same period in 2002. At the same time, the company’s output of natural gas increased 12.8 percent to 184.5 billion cubic feet, China Daily reported in mid-April, quoting a statement from PetroChina.

An industry analyst with a Beijing investment bank said the drop in oil production is due to maturing oil fields and is in line with market expectations.

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