China's state-owned oil and gas companies are ramping up efforts to help domestic companies resume production to ease the impact of the novel coronavirus outbreak and maintain economic stability.
China National Petroleum Corp, the country's largest oil and gas producer in terms of output, has seen its average daily output for crude and gas rise 2.2% and 12.6% year on year during the Lunar New Year holiday.
The company's Changqing oil and gas field, the largest oil and gas production base of China that has been providing energy for more than 400 million residents in Beijing, Shaanxi and Inner Mongolia, produced 134.93 million cubic meters of natural gas daily during the Spring Festival period, while its Daqing oilfield has produced more than 2.6 million tonnes of crude and 483 million cubic meters of natural gas in January this year.
The Tarim oilfield in the Xinjiang Uygur autonomous region delivered more than 2.5 billion cubic meters of natural gas in January, a year-on-year increase of more than 100 million cubic meters, while the Xinjiang oilfield located in Karamay produced more than 1.09 million tonnes of crude and 260 million cubic meters of natural gas last month.
China Petrochemical Corp (Sinopec), China's largest oil refiner, has ramped up oil and gas as well as raw material supplies to produce medical materials, drugs and emergency supplies for the affected areas.
The company produced 2.98 million tonnes of crude in January, equal to that of last year. Gas production reached 2.62 billion cubic meters, a year-on-year increase of 5.7%. Crude processing volume reached 21.35 million tonnes, up 1.1% year on year, while oil products output reached 13.57 million tonnes, up 0.7% year on year.
China National Offshore Oil Corp, also known as CNOOC, has provided 73,700 tonnes of petroleum products during the Spring Festival holiday to provinces like Hubei and Zhejiang. Its 43 gas stations in Hubei are in service and have provided 4,900 tonnes of petroleum products to the region to help buffer the impact of the novel coronavirus outbreak.
(Writing by Tian Zhang Editing by Tammy Yang)
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