China Petroleum & Chemical Corp. (SNP), or Sinopec Corp., produced a record 27.91 million metric tons of crude oil at its largest Shengli oilfield this year, the company's in-house newsletter said Thursday.
China Petroleum & Chemical Corp. (SNP), or Sinopec Corp., produced a
record 27.91 million metric tons of crude oil at its largest Shengli oilfield
this year, the company's in-house newsletter said Thursday.
The output at Shengli, equivalent to 560,500 barrels a day, is marginally
higher from last year's 27.85 million tons and a production target of 27.80
million tons.
Some analysts believe the oilfield is near depletion after 45 years of
production, but the newsletter said Sinopec has been using advanced technology
to keep up output.
Sinopec's Northwest oilfield produced 6.6 million tons of crude oil this year,
600,000 tons up on year; and 1.3 billion cubic meters of natural gas, it said.
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