China's sluggish upstream sector is beginning to show signs of a turnaround. China's crude oil production is expected to exceed for the first time an average 2.8 million b/d this year. Beijing is targeting 2.9 million b/d by 1995, a sizable increase considering the declines in most mature producing areas. That comes on the heels of a record 2.79 million b/d of oil China produced in 1991. Production rose from 2.55 million b/d in 1986 to 2.76 million b/d in 1990. If current forecasts hold up, China's crude production in 1992 could outstrip that of 1991 by as much as 100,000 b/d. The growth in...

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