PetroChina's ethylene production up in Q3

19 Oct '06

3 min read

PetroChina Company Limited announced that its business operations continued to advance ahead in a smooth manner in the third quarter of 2006, with key operational indicators improving steadily from those of the corresponding period last year.

In the third quarter of 2006, PetroChina prevailed over the impact of floodings that took place in some oil fields and achieved stable operation as planned. The Company's crude oil output reached 207 million barrels.

For the period from January to September this year, the Company saw relatively rapid growth in its oil and gas production as its accumulated total output amounted to 793 million barrels of oil equivalent, representing an increase of 43.4 million barrels, or 5.8 percent, from the same period in 2005.

In the third quarter of 2006, PetroChina continued to achieve growth in its crude oil refining volume compared with the corresponding period the previous year, as the Company spared no effort to run its refining facilities at full capacity whilst ensuring production safety and further optimizing its resources allocation.

For the period from January to September this year, the Company processed a total of 581 million barrels of crude oil, representing a growth of 17.9 million barrels, or 3.2 percent, from the same period in 2005. At the same time, the Company further improved the quality of its refined products and continuously optimized its product mix.

In the third quarter of 2006, the Company's chemical business attained pre-set production targets with the output of key chemical products increasing further. The Company produced 520,000 tons of ethylene, 728,000 tons of synthetic resin, and 77,000 tons of synthetic rubber.

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