Caixin
Dec 04, 2012 08:14 PM

Chinese Firms' Foreign Oil Production Mostly Sold Abroad, Official Says

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(Beijjing) - Chinese companies' foreign ventures produced 90 million tons of oil last year and more than 90 percent of that was sold abroad, a government official said on December 3.

The statement by Liu Qi, deputy director of National Energy Administration, was the first time the government has revealed the figure and it comes in response to criticisms that China was locking up large amounts of oil around the world.

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