12th Five-Year Domestic Crude Oil Exports to China Will reach 80 Million Tons

According to the “China Business” reported on September 6, over the next five years, 80 million tons of overseas procurement crude oil will be sent to China through pipelines.

The report said that in the next five years, in addition to guaranteeing that China-Russia crude oil pipelines will meet production standards, the China-Kazakhstan oil pipeline that was completed in 2006 will be further "expanded"; in addition, the China-Myanmar oil pipeline that started in June this year is brewing. Second-line project preparation.

The report also quoted Liao Li, deputy general manager of PetroChina (601857.SH; 00857.HK), as saying that PetroChina has already launched a project demonstration on the future increase of oil transmission volume for Sino-Russian crude oil pipelines. If supported by Russia, the pipeline will annually deliver oil. It is expected to reach 30 million tons; but he did not disclose whether he plans to build a double-track project.