OREANDA-NEWS. March 16, 2011. Petro China (601857) predicts that overseas oil and gas output will grow 15 percent to 100 million tons in 2011, reports sina.com.cn, citing board director Jiang Jiemin. Of the total output, 50 percent was owned by Petro China

The company’s most current overseas acquisition was a gas mining agreement with Encana in Canada in February worth 5.43 billion US dollars.

The energy giant also formed Petro China Oversea Planning and Research Center, which is in charge of preliminary research of developing overseas mining and oil refining.