PetroChina sets oil output record

PetroChina, China’s largest integrated oil producer by capacity, said its crude-oil output rose 1.5% last year to 842 million barrels, the Wall Street Journal reported. It was the company’s highest output since it listed in Hong Kong and New York in April 2000. Its natural-gas sales in 2005 totalled 1.15 trillion cubic feet, up 27% from 905.6 billion in 2004. Total oil and gas output in 2005 was 1.03 billion barrels of oil equivalent, up 5.5% from 980.2 million barrels a year earlier.