Sinopec processes 5% more oil
By Richard Fu |
July 23, 2011, Saturday
|
Print Edition
Print Edition
SINOPEC Corp yesterday said oil processing increased 5 percent in the first six months of this year on higher demand.
Crude throughput rose to 108.53 million tons in the first half, or 4.4 million barrels per day, compared with 103.4 million tons a year earlier, according to operational results released yesterday by Asia's largest refiner.
Fuel demand in China rose 7.2 percent in the first half because of a drought and robust farming demand, the National Development and Reform Commission said on Tuesday.
As the economy is set to rise at a slower pace this year, Sinopec and rival PetroChina Co have planned slower growth in refining volume.
Sinopec said in March that it planned to process 222 million tons of crude this year, up 5.2 percent from 2010. It processed 13 percent more in 2010 compared with the previous year.
Sinopec's first-half crude oil output fell 6 percent to 156.93 million barrels after production fell sharply in Africa due to an overhaul at a block in Angola, the company said.
However, its domestic crude production rose 0.7 percent to 150.22 million barrels.
Crude throughput rose to 108.53 million tons in the first half, or 4.4 million barrels per day, compared with 103.4 million tons a year earlier, according to operational results released yesterday by Asia's largest refiner.
Fuel demand in China rose 7.2 percent in the first half because of a drought and robust farming demand, the National Development and Reform Commission said on Tuesday.
As the economy is set to rise at a slower pace this year, Sinopec and rival PetroChina Co have planned slower growth in refining volume.
Sinopec said in March that it planned to process 222 million tons of crude this year, up 5.2 percent from 2010. It processed 13 percent more in 2010 compared with the previous year.
Sinopec's first-half crude oil output fell 6 percent to 156.93 million barrels after production fell sharply in Africa due to an overhaul at a block in Angola, the company said.
However, its domestic crude production rose 0.7 percent to 150.22 million barrels.
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