Chinese offshore oil company said its production at home was lower, despite gains in the overseas market. File photo by Project1photography/Shutterstock. Oct. 25 (UPI) — Incremental gains in overseas production weren’t enough to offset the declines in Chinese oil and gas production, state-owned CNOOC Ltd. reported Wednesday. The China National Offshore Oil Corp. said Wednesday that third quarter production of 116.2 million barrels of oil equivalent marked a 1.3 percent decline from last year. Offshore production from China yielded 73.8 million barrels of oil equivalent, a 2.3 percent decline from last year, while overseas production of 42.4 million boe marked a 0.7 percent gain from third quarter 2016. CNOOC said the drop in offshore China was because its fields were in decline, rather than regular maintenance. “During the third quarter of the year, the company made every effort to fully tap potential, constantly push forward quality and efficiency enhancement,” […]