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CNPC eyes US$124b sales by 2010
(Reuters)
Updated: 2006-01-20 09:24 China National Petroleum Corp, the parent of top
Asian largest oil producer PetroChina Co Ltd., aims to boost sales to 1 trillion
yuan ($124 billion) by 2010, a company-owned Web site said.
That would be an increase of 48.8 percent from revenues of 672 billion yuan
reported by state media for 2005.
The firm also plans to raise annual oil and gas production to around 200
million tonnes of oil equivalent (1.46 billion barrels of oil) by 2010, said the
report on the Web site (www.oilnews.com.cn), quoting CNPC's annual working
conference.
The report did not say how CNPC planned to meet the targets.
The state-owned energy giant will also strengthen safety measures in a bid to
put an end to major accidents over the next five years, it said.
China's National Safety Administration Bureau defines major accidents as
those causing more than 10 deaths, but standards vary and CNPC might use a
different calculation.
"Safety in production and environmental protection are our top
responsibility," it said.
An explosion at a CNPC chemical plant in northeastern Jilin province late
last year spilt tonnes of toxic chemicals into the Songhua river, contaminating
drinking supplies for millions of people downstream.
A blow-out at a CNPC natural gas well in southwestern Chongqing city in late
2003 killed more than 200 people and poisoned another 10,000.
All of CNPC's subsidiaries would launch a "Year of Safety and Environmental
Protection" campaign, aiming to eliminate hidden dangers and make emergency
contingency plans, it added.
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