July 2, 2010 (Chinavestor) Production at the Daqing Field, China's largest oil field rose to 20.07 million tonnes or 809,450 barrels per day, an increase of 1.2% from the 799,876 barrels per day produced at the field in 2009. Peak production at Daqing was 1 million barrels per day, but is slumping as the field matures.
The field produced 1.66 billion cubic metres of natural gas in the first half of this year. Daqing saw crude output fall to 48.4 million tonnes in 2003, the first time it was below the 50-million-tonne level in 27 years, according to the People's Daily online.
China Petroleum & Chemical Corp. (NYSE:SNP), Asia's largest refiner, has substantial oil production as well while CNOOC Ltd. (NYSE:CEO) is China's off-shore oil specialist. Together with Petrochina (NYSE:PTR), these three are are referred to as "China's oil triumvirate".
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