China's Crude Oil Production to Hit 162 Million Tons this YearChina's crude oil production is expected to reach 162 million tons this year, the China Securities, a Beijing based newspaper, said Friday, December 15.The newspaper quoted these comments by Chen Geng, director of the State Administration of Petroleum and Chemical Industries at an international conference on the industry held in Beijing Thursday. Chen estimates that the petroleum and chemical industries will report a sales income of 880 billion yuan and a profit of 80 billion yuan, which is 115 percent and 270 percent over the 1999 figures, respectively. In 2000, the country processed over 200 million tons of crude oil and produced 120 million tons of gasoline, kerosene and diesel,Chen said. |
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