CNPC to Increase Oil Supply in Q3

July 2, 2008  From www.chinainfoworld.com

(July 2)--The oil price on the international market exceeded US$ 140/barrel on June 26th, breaking yet another record. Although the domestic adjustment of the refined oil price has helped in easing the supply shortage on the market, the market actually remains pessimistic due to the significant difference between the oil prices on the international and domestic markets and the fact that the oil price on the international market is expected to continue to increase. In response to this, China National Petroleum Corporation has decided to take measures to increase the refined oil supply amid efforts to ensure the stable supply on the domestic market, announced the company. In the third quarter of this year, CNCP will raise the crude oil processing volume by 880,000t and the refined oil supply volume by 580,000t.

(Editor: Haijing Qu)