PetroChina ethylene output up at faster pace

25 Oct '07

3 min read

PetroChina Company Limited achieved stable growth in its key operational indicators during the third quarter of 2007. By realizing scheduled business plans formulated early this year and implementing operations in an organized manner, the Company is progressing smoothly towards its full-year target.

During the reporting period, PetroChina intensified its efforts and strengthened the organization and management of production. The Company's crude oil production proceeded smoothly, with total output reaching 212 million barrels.

Natural gas continued its rapid growth with output of marketable natural gas achieving 378.1 billion cubic feet, achieving a safe and stable gas supply. For the period from January to September this year, the Company saw a relatively rapid growth in its oil and gas production as its total accumulated output amounted to 828 million barrels of oil equivalent, representing an increase of 34.2 million barrels, or 4.3 percent increase from the same period in 2006.

Of this, accumulated crude oil output reached 632 million barrels, representing an increase of 0.9 percent from the same period last year, while accumulated output of marketable natural gas stood at 1176.1 billion cubic feet, representing an increase of 16.8 percent from the same period last year.

In the third quarter of 2007, PetroChina sustained a steady growth in the volume of crude oil refining as a result of its strenuous efforts in running refining facilities at full capacity whilst ensuring production safety, further optimizing resource allocation and production rationality.

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