PetroChina Sees Record Oil, Gas Production in 2022

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Researched by Industrial Info Resources (Sugar Land, Texas)--China Petroleum & Chemical Corporation (PetroChina) recently reported operating income of RMB 3.2 trillion (US$465.2 billion) for full-year 2022, an increase of 23.9% from 2021. PetroChina's oil and gas production equivalent hit 1.685 billion barrels in 2022, a historical high and a year-over-year increase of 3.7%.

China also made significant strides in its development of renewable resources, with its installed capacity for solar photovoltaic (PV) and wind-power generation totaling more than 1.4 million kilowatts.

The transformation of China's Petroleum Refining and Chemical Processing industries also has accelerated. Earlier this year, PetroChina's multi-phase Guangdong Petrochemical Integrated Refining and Chemical Project in Jieyang was completed and began operations, while Jilin Petrochemical and Guangxi Petrochemical's large-scale ethylene projects have started construction.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can click here for a list of reports related to the Jieyang project, click here for a list of reports related to the Jilin project, and click here for a list of reports related to the Guangxi project.

Industrial Info is tracking about 80 active chemical projects from PetroChina, valued at more than US$19 billion, across China. Jilin and Gansu are the top two provinces in terms of spending, both with projects in excess of $5 billion. Subscribers can click here for a list of project reports, and click here for a list of related plant profiles.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).