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China Daily | Updated: 2014-12-30 07:12
Daqing Oilfield to reduce output starting next year
Daqing Oilfield, the largest oilfield explored by China's major oil and gas producer PetroChina, is expected to reduce its production starting in 2015. According to a statement issued after the economic work conference of Heilongjiang province on Saturday, Daqing Oilfield, which produces nearly one-fourth of China's total oil output annually, will see output cut by 1.5 million metric tons next year. By 2020, Daqing's annual output will be slashed to 32 million tons with an annual reduction of more than 1.3 million tons, the conference said.
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