PetroChina aims for 50% natural gas by 2020

• PetroChina (PTR +1.1%) says it plans to raise natural gas as a share of its production to account for half its output by the end of the decade from 37% currently.
• PTR also says it seeks to raise total output by ~30% to produce more than 300M tons of oil and gas equivalent (6.02M boe/day) by 2030, with half coming from overseas projects vs. 14.4% in H1 of this year.
• PTR's global crude output in H1 fell 1.4% Y/Y to 470.6M barrels, gas production rose 7.4% to 1.66B cf, and total oil and gas output was 748.2M boe, up 1.7 Y/Y but down 1.3% vs. H2 2015.