Tag Archives: China National Petroleum Corporation (CNPC)

China’s Oil Field Posts 1st-Half Profit on Cost Cuts (Bloomberg)

Changqing produced 11.76 million tons of crude during the period (about 473,630 barrels a day), less than half the field’s total, while gas production reached 18.52 billion cubic meters. CNPC improved single-well output at Changqing and controlled production costs in the first half by investing the “lowest possible” amount in exploration for new reserves, the company said in the statement. Changqing is the biggest gas and oil contributor to PetroChina Co., CNPC’s flagship listed unit. Full story from Bloomberg here.

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