STATE-firm China National Petroleum Corp (CNPC) is planning to set up a logistics hub in Dubai to prevent possible disruptions from geopolitical risks in the region, Reuters reported citing the China Daily.

China’s largest oil producer was reported to set up a 200,000 sqm industrial park that includes production lines for engineering equipment, the newspaper said, citing that the base would be used as a depot in case of an emergency withdrawal from the region.

CNPC, which covers upstream operations mainly in Iraq and Sudan, halted production in Libya last year and evacuated its 391 Chinese employees after some project camps and operating sites were attacked.

In January, about 30 Chinese construction workers were abducted but later freed in Sudan due to feudal wars in some parts of the oil-rich country.

Reuters reported equity oil output from overseas projects operated by CNPC topped a record 1 million bpd last year, in line with targets.

Oil and Gas News | Middle East

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