BEIJING Jan 17 China National Petroleum
Corporation (CNPC) recorded a 12.9 percent increase in its
overseas equity oil and gas production last year, state media
and the company said on Friday, a growth pace rapidly
accelerating from the previous year.
CNPC, parent of PetroChina Co Ltd , said
its equity share of oil and gas output outside China in 2013
amounted to 59.2 million tonnes of oil equivalent or about 1.18
million barrels per day (bpd).
That compared to a 1.4 percent rise in 2012 to 52.43 million
tonnes or 1.05 million bpd, according to Reuters calculations
based on company released data.
CNPC did not specify the main contributors to the quickening
growth. It listed output breakdowns for the countries where it
has operating or equity interests, without giving a year-on-year
comparison or its share of the output.
The following figures are all output for projects in which
CNPC holds a stake.
CNPC International (Nile), which focuses on Sudan and South
Sudan, produced 13.35 million tonnes, or 267,000 bpd, of oil
equivalent in 2013.
Its operations in Kazakhstan produced more than 30 million
tonnes, or 600,000 bpd.
In Iraq, where listed arm PetroChina is among the largest
foreign investors, CNPC recorded an output of 40.72 million
tonnes, or 814,400 bpd, of oil equivalent in fields that it
works on, mostly under service contracts.
The oil giant also produced 13.17 million tonnes, or 263,400
bpd, of crude in Latin America, and 5.98 billion cubic meters
natural gas in Turkmenistan.
The state energy group plans to cut its total 2014
investment by 11 percent, while keep spending on its exploration
and production business steady, official Xinhua reported on
Friday, citing company president Liao Yongyuan.
That is in line with a strategy shift to focus on its core
sector of oil and gas exploration and production, while scaling
back on refining, petrochemicals and other capital-intensive
investments with lower profitability.
The state giant also further boosted its global oil and gas
trading in 2013, via operations in Europe, Asia and North
America, with trading volume up 15.4 percent on year at 350
million tonnes and turnover up 10.9 percent at $266 billion.
(tonne =7.3 bbls)
(Reporting by Beijing Newsroom; Editing by Tom Hogue)