Sinochem Wants to Quadruple Overseas Oil Output by 2020

David Nealis President of Blue Bridge

China's Sinochem Corp aims to nearly quadruple its overseas oil and gas output to 300,000 barrels oil equivalent per day (bpd) by 2020, building three production hubs in Colombia, Brazil and the Middle East, Reuters reported. Its oil and gas assets are dwarfed by China’s large oil firms such as Sinopec Corp, PetroChina and CNOOC Ltd. Though the target means a big leap in Sinochem's upstream portfolio, 300,000 bpd is equivalent to just 3% of China's total oil use.