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CNPC overseas equity oil, gas output to top 100 mln tonnes in 2020

July 31, 2019


Abstract : The overseas equity of oil and gas production equivalent of China National Petroleum Corporation (CNPC) is expected to reach 100 million tonnes by 2020, on par with its domestic equity of oil and gas production equivalent, according to CNPC.

BEIJING, July 30 (Xinhua) -- The overseas equity of oil and gas production equivalent of China National Petroleum Corporation (CNPC) is expected to reach 100 million tonnes by 2020, on par with its domestic equity of oil and gas production equivalent, according to CNPC.

The state-owned oil firm has seen an annual growth of 10 million tonnes in overseas equity of oil and gas production in the past three years.

CNPC is now running 92 oil and gas cooperation projects in 34 countries as China is advancing the Belt and Road Initiative (BRI), retaining a leading position on the scale of international operations among Chinese enterprises.

More than 3 million people have benefited from CNPC overseas projects as the firm signed a series of agreements with the countries involved in the BRI to support the infrastructure construction and provide convenience to the local residents, the company said.

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Keyword: CNPC oil and gas

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