China oil production to rise

Beijing, Nov 12 (IANS) China's two state-owned refineries plan to process about 31 million tonnes of crude oil in November, a Shanghai-based energy consultancy firm said.

PetroChina plans to process about 12 million tonnes, with a daily output of 405,000 tonnes, a 1.98 percent increase compared with the previous month.

Sinopec plans to process about 18.90 million tonnes with a daily output of 631,000 tonnes, 5.7 percent up on the figure for October, the ICIS Energy said.

The reason for the refining increase is growing demand for oil in the fourth quarter and reduced maintenance of refineries, the China Daily reported Monday.

The two oil giants currently have a refining capacity of 456 million tonnes a year, accounting for 67 percent of the country's total capacity, the consultancy said.

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