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Sinopec H1 oil output down by 6pct YoY

Steel News - Published on Tue, 26 Jul 2011

It is reported that China Petroleum and Chemical Corporation produced a total of 156.93 million tonnes of crude oil during the first half of 2011 down by 5.98%YoY.

Domestic crude oil production grew 0.69%YoY to 150.22 million tonnes while production at the company facilities in Africa fell sharply by 62.13% to 6.71 million tons. Equipment checks on 18 blocks in Angola were the major reason for the decline.

Sinopec produced a total of 253.89 billion cubic meters of natural gas an increase of 26.6%YoY. The state owned energy giant processed 108.53 million tonnes of crude oil in the first six months up by 4.96%YoY. Ethylene production rose 9.35% to 5.02 million tonnes.

It sold 75.1 million tonnes of refined oil domestically an increase of 10.2%YoY.

(Sourced from China Securities Journal)

Posted By : admin on Tue, 26 Jul 2011
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