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CNPC's crude oil output up 2% in 2011

Jan. 5, 2012 (China Knowledge) - China National Petroleum Corp or CNPC, the parent company of  PetroChina Co Ltd<601857><0857>, saw its crude oil output for 2011 increase by 2% or 2.13 million tons to 107.54 million tons.

The total output is equivalent to 2.16 million barrels of crude oil per day, said analysts.

In 2011, CNPC produced 4.1% or 3 billion cubic meters of natural gas with output totaling 75.5 billion cu m, which accounted for 35.9% of the total oil realized by CNPC last year, compared with a proportion of 12.4% in 2001.

The oil giant produces nearly 80% of China's total gas principally from three 10 billion cu m-gas fields, located in Changqing, Tarim and Southwest China, respectively.

China's National Bureau of Statistics said the country produced 7.5% more on gas with output of 76 billion cu m in the first third quarters of last year, while imported gas volume for the period surged 89% year on year to 22.5 billion cu m.

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