PetroChina's Q1 crude throughput surges 16.1%, output up 4.3%

Chemical News: PetroChina's Q1 crude throughput surges 16.1%, output up 4.3%

https://www.chemnet.com Apr 29,2011
PetroChina accumulatively refined 33.85-mil mt (250.1-mil bbl) of crude in the first quarter of 2011, sharply up 16.1% from a year earlier, according to the oil giant's quarterly report.

Market sources ascribed the surge to launch of 10-mil-mt/yr Guangxi Petrochemical and expanded capacities of Jilin Petrochemical and Liaohe Petrochemical.

Meantime, PetroChina recorded 29.65-mil mt (219.1-mil bbl) of crude output, inching up 4.3% year-on-year, it said in the report.

Rising crude prices stimulated PetroChina to enhance yield, but the output was affected by limited potential of existing oilfields, market sources said.
The average realized price of PetroChina's crude swelled 31.2% to US$91.85/bbl in the period, the report also showed.

China's crude throughput in the first quarter of this year marked a year-on-year increase of 10.15%, indicated data from the National Bureau of Statistics.

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