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CNPC's overseas output up 4.6% in H1

Jul. 9, 2012 (China Knowledge) - China National Petroleum Corp or CNPC, the parent company of PetroChina Co Ltd<601857><0857>, said today that its equity oil from overseas joint ventures grew 4.6% YoY to  25.30 million metric tons in the first half of this year.

The group said in a statement that its overseas projects produced a total of 50.52 million metric tons of oil equivalent of oil and gas in the first six months, 3.5% more than in the same period of last year.

The Rumaila oilfield, which is the biggest oilfield in Iraq and is jointly developed by BP and CNPC, saw its crude oil output reach 12.05 million metric tons in H1, 1.93 million metric tons more than its target for the period.

In 2011, CNPC's equity oil output from overseas projects increased to 51.7 million metric tons.

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