News Snapshot:
China Petroleum & Chemical Corp, or Sinopec, said on Thursday it plans to produce more than 30 billion cubic metres (bcm) of natural gas in 2020, marking an increase of just 1.1% from its output in 2019. The company’s gas production in 2019 was at 29.67 bcm, a jump of 7.2% from the prior year. Sinopec churned out a total 21.87 bcm of natural gas over the first three quarters this year, 0.2% lower than the same period last year, the company said, without offering a reason behind the slowed output growth in 2020. “Amid low oil prices situation, natural...
