Monday, January 14, 2008

China output on the rise

China's crude production continues to inch up, managing to gain a marginal 1.6% increase in 2007 to hit 186.65 million metric tonnes, or 3.733 million barrels per day, reflecting difficulties in the eastern fields to maintain stable production.

December posted the strongest crude output increase over the year, rising by 2.8% to 15.67 million tonnes. Natural gas has fared much better than crude, with output last year rising by 19.3% on year to 66.6 billion cubic metres. In December, the natural gas production gained 9.9% on year to 5.87 billion cubic metres. China's eastern fields - led by Daqing - are struggling with the natural decline. The country will have to rely on the output increase in the western fields to offset the fall in the east.
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