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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (1758)7/24/2000 1:50:47 PM
From: Tomas   of 2742
 
China's CNPC Oil Drilling, Refining in Sudan Shows Returns, Paper Says
By Edmond Lococo

Beijing, July 24 (Bloomberg) -- China National Petroleum Corporation, or CNPC, China's largest oil company and parent of Hong Kong-listed PetroChina Co. Ltd., expects to receive 2.4 million tons of crude oil annually from its controversial oil production venture in Sudan, the China Economic Times reported today, quoting the company.

In its first 10 months of production through June, the venture produced 7.5 million metric tons of crude oil, of which CNPC received 1.43 million tons worth $250 million. In June, CNPC started to receive an undisclosed return on its 50 percent holding in a Sudan oil refinery that began operations in May, the report added.
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Full article in China Economic Times (in Chinese):
cet.com.cn
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