Xinhua citing Mr Lao Yongyuan deputy general manager of CNPC as saying that China National Petroleum Corporation parent of PetroChina China largest oil and gas producer has invested more than 83 billion yuan in western China's Gansu Province from 2006 to 2010.

During this period, CNPC oil and gas production in Gansu had grown steadily to 4 million tonnes per year. Crude oil processing capacity had broken 14 million tonnes per year and sales of refined oil have reached 2.9 million tonnes per year.

The company had completed and put into operation a number of important oil and gas pipelines in Gansu province such as the Lan-Zheng-Zhang oil pipeline and the Second West-to-East gas pipeline. It had also fully completed the Lanzhou Petrochemical and Qingyang Petrochemical projects.

The company had realized operating revenue of CNY 195.2 billion in Gansu province in 2009 with total profits of CNY 3.7 billion paying fees and taxes of CNY 18.3 billion. It has created industrial added value of CNY 33.6 billion accounting for 10 percent of the province's total industrial added value.

Gansu province has become an import hub of China energy strategy. It encompasses the strategic channels of the West-to-East gas pipeline and the West-to-East oil pipeline; the transfer station for Asia's and Xinjiang's oil and gas resources to enter the inland area of China the important oil and petrochemical production base station in China's northwest region; and key distribution for the oil and gas products to get to Chongqing, Sichuan province and central China.

(Sourced from Xinhua)