The company is targeting capex of 60 billion yuan ($9.1 billion) in 2016, compared with between 70 and 80 billion previously estimated for last year when spending was cut by about a third.
About 64% of this year’s outlay is earmarked for field development, with four new domestic projects due on stream – Kenli 10-4, Panyu 11-5, Wiezhou 6-9/6-10 and Enping 18-1 - and another 20 schemes under construction.
Of
