From Rigzone:
Sinopec,
as China Petroleum is known, produced almost 472 million barrels of oil
equivalent in 2015, down 1.7 percent. Cnooc overtook it by pumping
about 496 million, jumping nearly 15 percent. PetroChina Co. remained
the largest, at 1.49 billion barrels.
From a post just the other day:
PetroChina ready to cut losses. Link here:
As oil’s collapse leaves some fields with no chance to turn a profit, China’s biggest producer is ready to cut its losses.
PetroChina Co. sees oil and gas output falling the first time in 17
years as it shuts high-cost fields that have “no hope” of making profits
at current prices.
The world’s biggest oil company by market capitalization after Exxon
Mobil Corp. said output will slide 2.7 percent this year to 1.45 billion
barrels of oil equivalent as a drop in crude production overwhelms
higher gas output.
There's actually a bigger story here than some observers might note.
Obviously PetroChina wasn't exporting much of their oil; their country
needs all they produce. With their biggest producer cutting back, China
will be importing more oil.
So, we have, for China:
1. PetroChina 4 million bopd
2. CNOOC: 1.4 million bopd
3. Sinopec (China Petroleum): 1.3 million bopd
In round figures, Saudi Arabia, Russia, and the US each produce about 10 million bopd, the US closer to 9 million, Saudi Arabia closer to 12 million bopd.
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