CNPC reports strong output, sales in January

BEIJING - China National Petroleum Corporation (CNPC), the country's largest oil and gas producer and supplier, reported strong output and sales in January.

The company's Daqing Oilfield, China's largest oilfield situated in the northeastern Heilongjiang province, saw crude oil output reach 2.73 million tons, exceeding the monthly target by 0.8 percent, according to a CNPC announcement.

The oilfield achieved "a strong start to the year" in production, the company said.

The oilfield produced 441 million cubic meters of natural gas, 1.61 percent above the monthly target.

The company's overseas businesses also realized better-than-planned output last month, with crude oil output totaling 6.79 million tons and natural gas output at 2.75 billion cubic meters.

Domestic sales also increased, with oil sales in Southwest China's Yunnan province surging 27.6 percent year-on-year to 115,200 tons in January.

In the northwestern Qinghai province, the CNPC's sales revenue from non-oil business jumped 36 percent year-on-year last month, while gasoline and diesel sales were above targets.

In the southwestern Chongqing municipality, the company's sales revenues from oil and non-oil businesses both recorded double-digit growth.

PetroChina, the listed arm of the CNPC, expected a 123 percent to 132 percent growth in net profits in 2018, according to a company statement last month.