Roundup of world financial, banking and stock market news.

Tuesday, 22 September 2009

China's largest oil producer vows to maintain prominence for 50 more years


Daqing Oilfield, China's largest oil producer, wants to retain its prominence in the country's petroleum industry for another 50 years.

Wang Yongchun, general manager of Daqing Oilfield Co. Ltd, said Tuesday the oilfield would remain an important energy base and continue to contribute a large proportion of China's energy supplies up to 2060.

Wang said factors such as adequate underground fossil resources, scientific progress and well-trained personnel would help achieve this end.

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