China National Petroleum Corp, parent of PetroChina, said it increased crude oil production by one million tons and natural gas output by 10 billion cubic meters in 2007, and aims for the same increment this year.
That represents an on-year growth of one percent for oil and 22 percent for gas. CNPC produced 106 million tons of crude and 44.5 billion cubic meters of gas in 2006.
CNPC aims to increase oil production by another one million tons and gas output by another 10 billion cubic meters this year, President Jiang Jiemin said in a statement.
The company's oil processing volume, as well as sales for refined oil products and natural gas rose by large margins last year, said Jiang, also chairman of the listed PetroChina Co. He didn't give figures.
The company made several major finds last year, with the most notable being the Jidong Nanpu oil field in north China, which the company said holds one billion tons of reserves.
Jiang added that CNPC has made major progress in international business last year with overseas oil and gas production growing steadily. Again, Jiang did not give figures.