HONG KONG (Dow Jones)--Citic Resources Holdings Ltd. (1205.HK), a Chinese energy and base-metals producer, has cut output targets for its Kazakhstan oil field for 2008-2010 by 4% to 9%, company Chairman Sun Xinguo said Wednesday.
Speaking to reporters, he said the company's capital expenditure on its oil operations next year will be raised to US$590 million from this year's US$320 million.
Citic Resources is aiming to spin off its Manganese operations in Hong Kong by the end of the year, he said