China is forecast to produce 189 million tons of crude oil in 2008, a growth of 1.61 percent over the 186 million tons last year, according to a recent report released by the nation's leading oil producer, PetroChina.
The production would rank China fifth among oil producing countries globally. The report said China had verified oil deposits of 20.7 billion tons over the past 30 years.
In the three decades, Daqing Oilfield in northeastern China pumped out 1.576 billion tons of crude, or more than 40 percent of China's total onshore crude output for the period. It kept annual crude oil output at more than 50 million tons for 27 consecutive years.
Shengli Oilfield, on the eastern coast, produced 805 million tons of crude in the 30 years, or more than 20 percent of the onshore crude output nationwide for the period. In 2007, it continued to maintain annual crude production at 27.7 million tons.
The report said China's annual natural gas output rose from 13.9 billion cubic meters in 1978 to 69.8 billion cubic meters in 2007. This year the production would reach 76 billion cubic meters, the report said.
In the last three years, China's natural gas output increased at an annual pace of more than 17 percent on average, much higher than the world average of 4 percent, according to the report.
(Shanghai Daily December 29, 2008)
