By Wang Yu (China Daily)
Updated: 2007-09-07 06:31
It is a land of cantaloupes, but this year's most exciting harvest in Xinjiang Uygur, China's western-most autonomous region, could be reaped by Sinopec.
Sinopec, or the China Petroleum & Chemical Corp, is Asia's largest refiner and one of China's two largest oil and gas companies.
With the company's new finds of natural reserves, its crude oil output from Xinjiang is expected to increase from last year's 4.7 million tons, or 10 percent of the company's 2006 total, to more than 5.3 million tons this year.
Some of the added output will come from the desert of Tarim, where Sinopec confirmed a new discovery of as much as 200 million tons of oil and gas reserves last month.
It could be just what the company needs as it faces an increasing challenge from rival PetroChina, which for the last few weeks has been touting its new oil and gas discoveries, believed to be the largest in many years.
Some samples of what it going on with regard to China and their quest for oil. . .
Big Shift in China's Oil Policy
With Iraq Deal Dissolved by War, Beijing Looks Elsewhere
By Peter S. Goodman
Washington Post Foreign Service
Wednesday, July 13, 2005; D01
http://www.washingtonpost.com/wp-dyn/content/article/2005/07/12/AR200507...
Tahe discovery a win for Sinopec
By Wang Yu (China Daily)
Updated: 2007-09-07 06:31
It is a land of cantaloupes, but this year's most exciting harvest in Xinjiang Uygur, China's western-most autonomous region, could be reaped by Sinopec.
Sinopec, or the China Petroleum & Chemical Corp, is Asia's largest refiner and one of China's two largest oil and gas companies.
With the company's new finds of natural reserves, its crude oil output from Xinjiang is expected to increase from last year's 4.7 million tons, or 10 percent of the company's 2006 total, to more than 5.3 million tons this year.
Some of the added output will come from the desert of Tarim, where Sinopec confirmed a new discovery of as much as 200 million tons of oil and gas reserves last month.
It could be just what the company needs as it faces an increasing challenge from rival PetroChina, which for the last few weeks has been touting its new oil and gas discoveries, believed to be the largest in many years.
http://www.chinadaily.com.cn/china/2007-09/07/content_6088602.htm