China's three State-owned oil giants set new production records last year despite a slowdown in global economic growth and lower international crude oil prices, as they stepped up oil and gas exploration to ensure domestic energy security. China National Petroleum Corp, or PetroChina, saw its oil and gas equivalent production reach a new high of 1.76 billion barrels last year, up 4.4 percent year-on-year, while that of China Petroleum and Chemical Corp, also known as Sinopec, rose 3.1 percent year-on-year to 70.92 million metric tons, also a historic high. China National Offshore Oil Corp set records in both reserves ... (full story)