PetroChina's Tarim unit reports 8% rise in first-quarter oil and gas output [Reuters]
PetroChina Company Limited (PTR)
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Source: Reuters
PetroChina's Tarim unit reports 8% rise in first-quarter oil and gas output SINGAPORE (Reuters) - PetroChina raised first-quarter oil and gas production at its upstream unit Tarim in northwestern China by nearly 8% to 7.91 million tonnes of oil equivalent, according to parent company China National Petroleum Corp. China’s third-largest onshore oil and gas field, the PetroChina Tarim unit in the Xinjiang region aims to produce 30 million tonnes of oil equivalent this year, CNPC said on its website on Tuesday. That compares with an estimated 28.51 million tonnes produced in 2019. The state oil giant also adjusted production and operational plans in response to falling oil prices and lower demand owing to the coronavirus outbreak, shutting down 262 oil wells and water injection wells that are no longer profitable, CNPC said In a separate report on Tuesday, CNPC said that PetroChina’s refining and petrochemical subsidiaries are maximising manufacturing of polypropylene used for making med
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