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China's Petroleum Output Stagnates

08-20 13:37 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-08-19/110227246.html

» Petroleum output in China may stagnate for the remainder of 2009, due to inventory build-up and weak demand.
» Downstream demand has not fully rebounded in China, said Zhu Fang, vice-director of the China Petroleum and Chemical Industry Association's information department.
» According to the association, oil production in July was 20.61 million tons, a year-on-year increase of 13.8 percent.
» Zhu said that two state-owned oil firms - China National Petroleum Corp. and China Petrochemical Corp. – may soon cut-back on oil production.
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