PetroChina's 1Q Overseas Production Up 10%

PetroChina’s oil and gas production in the three months to March 31 (1Q 2019) was 26.09mn metric tons of oil equivalent, up 10% year-on-year, PetroChina’s parent firm CNPC said April 16. The company said the output is 26% of the 2019 production target, so it is on track.

PetroChina’s is the listed arm of Chinese state CNPC and is the biggest oil and gas producer in China. Last month, the company said its 2018 profit had more than doubled thanks to higher realised oil and gas prices.