PetroChina speeds up crude run, fuel sales in Q4

Asia’s top oil and gas producer, PetroChina (0857.HK) (601857.SS), reported that the company has accelerated its crude run and fuel sales in the last quarter, reflecting an improving domestic market.

The press release is quoted as saying:

PetroChina’s refinery production fell 2.5 percent in the whole of 2009, compared with a contraction of 5.5 percent in the first three quarters, according to the company’s annual report released on Thursday. Sales of three major refined fuels — gasoline, diesel and keresene — jumped by 12.2 percent in 2009, almost triple the rate in the first nine months. Chinese oil firms have been racheting up their production in recent months to brace for an upcoming domestic demand surge as factories start to work in earnest after the sluggish winter.

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