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The China National Petroleum Corporation (CNPC) announced on Wednesday that it had expanded its oil and gas operations to 25 countries in 65 projects.

 

In overseas projects, the annual output of crude oil has exceeded 50 million tons while natural gas output has surpassed five billion cubic meters each year, said the company.

 

The company said it had overtaken US giant Chevron and France's Total to become the world's seventh largest oil firm.

 

The ranking was compiled by the US-based Petroleum Intelligence Weekly on the basis of six indices including oil and gas reserves, oil and gas output and sales volume.

 

The CNPC said that its rise up the rankings was mainly boosted by the growth of its oil and gas reserves abroad.

 

(Xinhua News Agency January 18, 2007)