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  • World of Oil


    Kurt S. Abraham, Managing/International Editor

    China saw growth in 2006 crude output China’s oil production in 2006 rose by a moderate 1.7%, or 3.07 million tons, year on year, to 183.68 million tons (3.67 million bopd), according to figures from the country’s National Bureau of Statistics. The growth rate was down from a 3.5% annual gain recorded in 2005. Offshore fields were likely to have contributed most to the country’s crude output growth last year. Pertamina set to evolve Indonesia's state-owned oil and gas firm, Pertamina, might take its subsidiaries public, but the holding company, itself, will not be listed, said Oil Minister Purnomo Yusgiantoro on January 30. The Indonesian government owns 100% of Pertamina, which was transformed from a national oil and gas company into a limited liability company in 2003, under the provisions of oil and gas law No. 22 of 2001. The government expects to further restructure Pertamina, to make it more efficient and competitive.

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