China Oil Giant To Double Overseas Output
China's state oil giant China National Petroleum Corp. (CNPC) is expected to more than double its overseas oil output to around 120,000 barrels per day (bpd) this year, Chinese industry sources said on Wednesday.CNPC produced about 2.5 million tons of crude oil in 1999, or 51,000 bpd, up one third from the previous year.
Overseas production increases this year would come primarily from the company's operations in Sudan where it is expected to reach 60,000 bpd, from Kazakhstan at 30,000 bpd, and Venezuela at 24,000 bpd, the sources said.