Big Increases in Crude Oil
Source: Peking Review, No. 3，January 21, 1972
Transcribed for
www.wengewang.org Adhering to the principle of "maintaining independence and keeping the initiative in our own hands and relying on our own efforts," China's petroleum industry has raised crude oil output at an average annual rate of 30 per cent in the five years ending 1970. Last years production went up 28 per cent compared with the year before. Output of natural gas topped the 1971 state plan and showed a 25 per cent increase over that of 1970.
New oil resources were found and new oilfields opened in many areas. High-yielding oil and gas wells have been drilled in some places. This has contributed to further improving the regional distribution of the petroleum industry.
Capital construction in the industry has made swift progress. New wells and new refining equipment went into operation last year in the Taching Oilfield and in Yumen, Chinghai, Sinkiang, Szechuan and other places. Compared with 1970, the nation's crude oil extracting and processing capacity rose 17 and 16 per cent respectively. Production of gasoline, kerosene and lubricating oil surpassed their respective 1970 figures by big margins, and varieties met national economy and national defence needs.
Oil refineries not only provided the state with many high-quality and highly-efficient new petroleum products, but also made such chemicals as synthetic rubber and fibre.
