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Chinese NOCs to lift domestic output after Xi order

China’s three NOCs have talked up plans to boost their oil and gas output after Chinese President Xi Jinping called on them to enhance energy security China’s three NOCs have talked up plans to boost their oil and gas output after Chinese President Xi Jinping called on them to enhance energy security.
By Colin Shek 3 September 2018 Asia Pacific / Exploration & Production 0 32382
A Sinopec drillpad at Jianghan. (Sinopec)

China’s state-owned energy giants are working to expand domestic oil and gas exploration and production after benefiting from a rebound in energy prices during Q2 2018. The focus on domestic supplies comes after Chinese President Xi Jinping recently urged the country’s NOCs to help safeguard national energy security.

PetroChina – the last of the three Chinese NOCs to report its H1 2018 earnings – aims to increase its domestic gas production by 4% on an annual basis in 2018, rising to 4-5% per...