China's largest oil refiner, Sinopec (600028.SH; 0386.HK; SNP.NYSE) announced Wednesday that its Tahe Oilfield is predicted to produce 6.09 million tons of crude oil in 2008, rising about 14 percent compared to 2007.

     Meanwhile, Sinopec's Northwest Oilfield Company has produced 2.94 million tons of crude oil and 587 million cubic meters of industrial use gas in the first half year of 2008, respectively increasing 17.3 percent and 25.2 percent year on year, according to the announcement.

     Stimulated by Sinopec's output rising report, the company's A share price rose nearly 3 percent to 10.4 yuan from Tuesday's lowest point 10.1 yuan, while Shanghai bourse jumped 2.65 percent on Wednesday.