PetroChina Company closes 6% oil refineries last year

Wang Fucheng, vice chairman of  PetroChina Company(0857), said the company had closed several low-profiting oil refineries during the period between January and December of last year. The production of these refineries was about 113,400 barrels per day, or 6% of the total oil production, lower than 2.031 mln barrels per day of 1999.The oil conservation till 2000 in China was about 17.6 bln barrels , of which PetroChina accounted for 75%, China Petroleum & Chemical(0386) accounted for 17% and CNOOC(0883) accounted for 7%. The conversation of natural gas was about 32.2 Tcf, of which PetroChina accounted for 70%, China Petroleum & Chemical accounted for 3% and CNOOC accounted for 21%.

Related stock : (857;386;883)