英闻天下——186 CNPC to Boost Overseas Oil, Gas Production
时间：2013-03-05 05:38:08
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（单词翻译）
China's top oil and gas producer said overseas operations will take a much larger share of its overall output as the company continues to expand abroad.
The China National
Petroleum1 Corp or CNPC produced around 110 million tonnes of oil equivalent through overseas operations last year.
That output accounted for nearly 40 percent of its total oil and gas output.
Revenues from overseas business made up 39 percent of the company's total.
The Chinese oil giant staged a shopping spree with two major overseas acquisitions in 2012.
The company bought a 10.2 percent stake in a natural gas project for 1.6 billion U.S. dollars from the Australian mining company BHP Billiton.
Two days later, it paid nearly 2.2 billion USD to partner with Canadian natural gas producer Encana to develop shale-gas fields in northern British Columbia.
The company plans to continue its fast expansion for at least two more years.
Some media reports suggest the company is now in
negotiations2 to pay 50 billion USD to buy stakes in a massive oil field in Iraq from Exxon Mobil.
For more on CNPC's ambition abroad, we now cross live to CRI's financial
commentator3, Cao Can.
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