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Commodities Briefing - Categorized | Market Moves, Oil more

China’s foreign oil output to rival OPEC members

Posted on 21 February 2013

China is on track to produce enough crude oil outside its borders to rival Opec members such as Kuwait and the United Arab Emirates, after its state-owned oil companies spent a record $35 billion buying foreign rivals last year.
In the first tally of the impact of China’s recent overseas oil investments, the International Energy Agency calculates China’s national oil companies will produce 3 million barrels a day abroad in 2015, double their 2011 overseas output of 1.5 million b/d and equivalent to Kuwait’s annual output……………………………………Full Article: Source


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