PetroChina generates 1.888mn tons ethylene in 2005

17 Jan '06

4 min read

Petroleum products seller PetroChina Company Limited (PetroChin/PTR) announces that it recorded healthy growth in 2005, with its key operational data indicating sound business performance.

Responding to market changes home and abroad, the Company, under prudent management, conducted its production and operation in a smooth and careful manner in the past year.

In 2005, the Company's total oil and gas output amounted to 1.034 billion barrels of oil equivalent, representing a rise of 5.5 percent from a year earlier. Crude oil output reached 842 million barrels, the highest level since the Company's listing in 2000.

This represented an increase of 12.80 million barrels, or 1.5 percent, from a year ago, marking the largest annual increase in recent years. The Daqing oilfield continued its strategic production adjustment and crude oil output remained at 44.95 million tons last year.

The Company produced 1.888 million tons of ethylene, and 2.756 million tons of synthetic resin, representing an increase of 2.3 percent and 8.0 percent, respectively, from a year ago.

The on-going rejuvenation efforts led the oilfield into a good trend and improved prospects for further development. The Changqing oilfield obtained an increase of 1.29 million tons of crude oil from a year earlier while its oil and gas output rose to 15.40 million tons of oil equivalent in 2005.

The Tarim oilfield recorded an output of 10.52 million tons of oil equivalent, becoming China's sixth onshore gas and oil field with an output exceeding 10 million tons of oil equivalents.

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