A shift in Beijing’s priorities away from production targets has allowed Chinese oil companies to halt output in maturing oilfields, a previously politically unpalatable decision that leaves them better placed for an eventual recovery in oil prices.
北京方面降低对产量指标的注重，使中国石油企业得以停止开采成熟油田。这个以往在政治上行不通的决定将使它们处于更有利的地位，以迎接油价的最终复苏。
International majors routinely scale back production from high-cost fields when oil prices fall, but in China, for decades, the government mandate has been to increase domestic supply and ensure energy security.
大型国际石油企业经常在油价下跌时缩减高成本油田的产量，但在中国，几十年来政府下达的任务是增加国内供应，确保能源安全。
In years past, they were under pressure to produce higher numbers every year, even if they were producing uneconomically.
往年它们承受逐年提高产量的压力，即使这种生产在经济上不划算也在所不惜。
Now that pressure is gone, said Laban Yu, head of Asian energy research with Jefferies.
现在这种压力消失了，杰富瑞(Jefferies)亚洲能源研究主管Laban Yu表示。
In the past week both PetroChina and Sinopec reported declines in oil production for the first half of the year.
过去一周，中石油(PetroChina)和中石化(Sinopec)都报告今年上半年石油产量下降。
Sinopec said domestic crude oil output fell 13 per cent versus a 3 per cent drop in its overseas operations, while PetroChina reported a 4 per cent decline in domestic production.
中石化表示，国内原油产量下降了13%，而海外产量下降了3%，而中石油报告国内产量下降4%。
Both managed to turn a profit in the first half, though PetroChina just barely remained in the black, reporting a 98 per cent plunge in first-half net profit to Rmb531m ($79m) while revenue fell 16 per cent to Rmb739bn.
两家公司在上半年都实现盈利。尽管中石油勉强保持盈利，上半年净利润暴跌98%，至5.31亿元人民币（合7900万美元），而营收下降16%，至7390亿元人民币。
Sinopec, whose refining arm benefits more from low crude prices, said net profit declined 22 per cent to Rmb20bn as revenues fell 37 per cent to Rmb880bn.
中石化——其炼油部门从低油价中获得更多好处——报告净利润下降22%，至200亿元人民币，营收下降37%，至8800亿元人民币。
China’s third oil major Cnooc, which had told analysts it would likely cut output by as much as 5 per cent this year, said oil and gas production crept up by less than 1 per cent in the first half and is expected to see crude output fall in the second half of the year.
中国第三家大型石油企业中海油(CNOOC)此前告诉分析师，今年很可能减产高达5%。该公司现在表示，上半年石油和天然气产量微升不到1%，预计今年下半年原油产量将会下降。
The company lost Rmb7.74bn in the first half, reversing from a profit of Rmb14.73bn a year ago.
该公司在上半年亏损77.4亿元人民币，去年同期实现147.3亿元人民币利润。
In the first seven months of the year, Chinese crude oil output dropped 5 per cent compared with the same period of 2015, with production in July falling to levels last seen in late 2011.
今年头七个月，中国原油产量同比下降了5%，7月份产量降至2011年末以来未见的水平。
That comes as refinery expansions and relaxed regulations on independent teapot refineries importing crude oil has turned China into a net exporter of oil products, easing Beijing’s fears of an oil supply shortage.
与此同时，炼油设施扩建和对以进口原油为原料的独立茶壶炼油厂放松监管，使中国成为一个成品油净出口国，也缓解了北京方面对于石油供应短缺的担忧。
The language from Sasac has changed, said Thomas Hilboldt, head of energy research for Asia at HSBC, referring to the State-owned Assets Supervision and Administration Commission, which is in charge of state-owned companies.
国资委的措辞发生了变化，汇丰(HSBC)亚洲能源研究主管托马斯•希尔伯特(Thomas Hilboldt)表示。他指的是负责国有企业的国务院国有资产监督管理委员会(SASAC)。
The top-down guidance is no longer targeting production thresholds but supply thresholds.
自上而下的指导不再瞄准产量门槛，而是瞄准供应门槛。
In simple terms, if all-in oil production costs are $50 to $60 a barrel to get oil out of the ground, and it can be purchased in the marketplace for $25, then you should just buy crude for $25, he said
简单来说，如果开采石油的全部成本是每桶50美元至60美元，而在市场上用25美元就可以买到，那么你就应该以25美元的价格买入原油，他说。
That marks a sea change for China, where increasing production year after year was the top political priority regardless of the cost.
这对中国是一个巨大变化；在中国，逐年提高产量而不计成本曾是最高政治任务。
Low oil prices and a supply glut have given oil companies the mandate to shut maturing fields and reduce workforces, even in northeastern provinces and the coal heartland where unemployment is already a big problem.
低油价和供应过剩使石油企业获得了在成熟油田停产和减少劳动力的授权，即便在失业已经是一大问题的东北省份和煤炭腹地也是如此。
It’s not likely that the oil companies would close down oilfields on a large scale, but certainly they would use the chance to close down those old oilfields that produce little but cost a lot to operate, said Zhu Chunkai, oil analyst at .
石油企业不太可能大规模关闭油田，但可以肯定它们会利用这个机会关闭那些产量很小、但作业成本很高的老油田，卓创资讯()石油分析师朱春凯表示。
Cuts in high-cost production beginning in 2015 helped PetroChina and Sinopec stay profitable, said Mr Yu of Jefferies, adding there was a lot of fat to cut.
杰富瑞的Laban Yu表示，2015年启动的削减高成本生产的努力帮助中石油和中石化保持盈利。他补充说，有大量脂肪可以切除。