China Knowledge reported that Sinopec Group, the parent company of Sinopec Asia largest oil refiner plans to increase its oil output from overseas projects to 50 million tonnes in 2015.

The target was more than twice the 22.88 million tonnes produced in 2011.

The Chinese oil giant said in a statement that Sinopec International Exploration and Production Corp, a wholly-owned subsidiary, aims to produce 27 million metric tons of oil this year.

Sinopec International Exploration and Production Corp, the sole professional company of Sinopec engaged in overseas upstream investments and operations, owned interests in 47 overseas projects in 23 countries as of the end of last year.

(Sourced from China Knowledge)