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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China says 2008 crude production up 1.6 pct: state media AFP - Sunday, December 28 SHANGHAI (AFP) - - China is expected to produce a total of 189 million tonnes of crude oil in 2008, an increase of 1.6 percent over last year, state media reported Sunday. PetroChina, the nation's leading oil producer, released figures saying China had found more than 20.7 billion tonnes of proven oil deposits in the past 30 years, the Xinhua news agency reported. China produced 186 million tonnes of crude oil in 2007, according to Xinhua. PetroChina, like many European oil companies, measures its output in tonnes instead of the US standard of barrels. This year's output would be 189 million tonnes, an increase of 1.6 percent. Two oil fields account for most of the country's oil production. The Daqing Oil Field in northeastern China has pumped out 1.576 billion tonnes of crude oil over the past three decades -- more than 40 percent of China's total onshore crude output during that period. The Shengli Oil Field on China's eastern coast has produced more than 805 million tonnes of crude in 30 years, or more than 20 percent of the onshore crude output nationwide for the period, Xinhua said. China is also expected to produce 76 billion cubic metres of natural gas in 2008, up from 69.8 billion cubic metres last year, the report said. China's once voracious appetite for oil has falled sharply due to the global economic slowdown and inventories are surging, the China National Petroleum Corp, or CNPC, said last month. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Panasonic Electric to shut 3 plants, cut 800 jobsReuters - Sunday, December 28 China says 2008 crude production up 1.6 pct: state mediaAFP - Sunday, December 28 Japan steel-makers expecting 12 pct drop in profits: reportAFP - Sunday, December 28 Natixis to slash 85 percent jobs in TokyoAFP - Sunday, December 28 Related Articles: Business Money for tainted milk victims not enough: lawyersAP - 1 hour 3 minutes ago S.Korea KDB agrees to Daewoo shipyard sale delayReuters - 1 hour 8 minutes ago SNAPSHOT - Financial Crisis - 0600 GMTReuters - 1 hour 33 minutes ago Satyam defers board meeting, mulls governance stepsReuters - 1 hour 57 minutes ago Panasonic Electric to shut 3 plants, cut 800 jobsReuters - Sunday, December 28 Enlarge Photo China says 2008 crude production up 1.6 pct: state media Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Stars of Hollywood, high-tech open wallets for Obama party Tough times seen ahead for British, Japanese economies Funeral of Guinea strongman as junta tightens grip Australian 'mummy smuggler' arrested in Cairo View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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