 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Beijing (AFP) April 20, 2010 China National Petroleum Corp. (CNPC), the country's top oil producer, aims to boost output at a giant Iraqi oilfield by 10 percent this year, a newspaper owned by the company said Tuesday. CNPC and Britain's BP in November signed a deal with Iraq to nearly triple production from the current one million barrels a day to 2.85 million barrels at the Rumaila field over the next six to seven years. The consortium will fully take over work on the oilfield by June 30 and plans to increase its output by 10 percent by the end of this year, said a report by China Petroleum Daily, a newpaper owned by CNPC. The companies are projected to invest 14 to 20 billion dollars between them and have agreed to accept payment of two dollars per additional barrel produced at Rumaila. Rumaila is already integral to Iraq's oil output, contributing almost half of the nation's current production of around 2.5 million bpd, and is estimated to have further reserves of 17.7 billion barrels. China has been aggressively securing overseas oil production contracts as it seek to meet soaring energy demand at home.
Share This Article With Planet Earth
Related Links Powering The World in the 21st Century at Energy-Daily.com
Oil Multinationals Face Global Investor Skepticism On Oil SandsLondon, UK (SPX) Apr 20, 2010 As shareholders gather in London this week for BP's annual general meeting, American and British investors are coordinating a unique effort putting pressure on four major oil multinationals over their controversial investments in the Canadian oil sands. Investors from both sides of the Atlantic have filed resolutions for the BP, Shell, ConocoPhillips and ExxonMobil annual general meetings ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook