CNPC looks to large refineries for growth

BEIJING, May. 21 (Xinhua) -- This predicted operation of four refineries each and every with a good processing capacity regarding 15 million tons or maybe more will greatly boost the growth of China National Petroleum Business (CNPC) in 2008, stated a senior official in the country's largest oil producer on Friday.

The some refineries are located within Dalian, Fushun, Dushanzi and even Qinzhou. The first about three are being widened and even the last is the fresh one being developed.

CNPC deputy general manager Zhou Jiping said often the company also plans in order to kick off the development associated with another super refinery this specific year in Sichuan domain in southwest China. It has the capacity shall also extend past 10 million tons.

CNPC expects to raise its crude production by 1 million a lot and herbal gas output by simply 13. 5 billion cubic measures in the coming season.

Priority must be provided to the advancement completely new oilfields as well since stabilization of the end result of outdated ones in case the crude development target is to be fulfilled, claimed Zhou.

"The calendar year involving 2008 stands for a pivotal point intended for CNPC, when a amount of major projects are going to be carried out and just about all these types of strategic programs are important to improving typically the generation pattern and improving competitive strength of often the company, very well Zhou mentioned.

In 2007, sales involving natural gas matured 21 years of age. 3 percent on the former year and became CNPC's fastest-growing business, he claimed.

The assets of CNPC hit 1. 54 trillion yuan (212. 4 thousand U. S. dollars) like at the end associated with 2007, up 8. first percent year on calendar year. biocides supplier -installed production drives of crude oil in addition to all natural gashit 13. sixty six , 000, 000 tons and 12. 3 or more billion cubic yards, correspondingly.

Profit generated by overseas exploration and drilling furthermore increased quickly, Zhou said without elaborating.

Along with international projects extending to If you have, central Asia, the particular Middle Far east, America and Asia-Pacific location, the business earlier this month promised to speed up their offshore expansion while sustaining domestic output growth.