The chief executive of China National Offshore Oil Corp. (CNOOC) reiterated on Thursday his company's stated goal of hiking upstream production by a compound annual rate of 6%-10% in the five years from 201115. Yang Hua also said the Chinese state oil giant intends to increase the volumes it produces abroad from around 20% of last year's net total of 900,800 barrels of oil equivalent per day to more than 30% of the total by 2015 (IOD Mar.24'11).
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