For China, the challenge actually comes from the supply end, especially after the government initiated the strategy of speeding up oil and gas exploration since 2018. Although domestic production keeps going up in recent years, it is not as fast as the consumption grows. Based on the statistics...
China Tries to Boost Domestic Oil OutputWayne Ma
According to the data of SunSirs, the average price of domestic fuel oil 180CST as of January 8 was 5,966.00 RMB/ton (tax included), down 0.07% from the price of 5,970.00 RMB/ton on January 2. The fuel oil commodity index on January 8 was 120.83, which was the same as yesterday...
China's top energy authority vowed to further enhance the nation's energy security by maintaining annual domestic oil output at over 200 million tons and deepening energy cooperation with Russia. The National Energy Administration (NEA) will further safeguard China's energy supply by maintaining the ...
“Genetically modified soybeans have a better immune system, which increases their production. Therefore, the price of genetically modified soybeans is more competitive than domestic ones,” said Wang Cheng, the supervisor for Jilin Qiancheng Agricultural Development Company. ...
According to the data of SunSirs, the average price of domestic fuel oil 180CST was 6,020.00 RMB/ton (tax included) as of January 15, up 1.07% from 5,956.00 RMB/ton on January 9. The fuel oil commodity index on January 15 was 121.92, which was the same as the previous day, ...
1. Expanding domestic demand We should give priority to the recovery and expansion of consumption. The incomes of urban and rural residents should be boosted through multiple channels. We should stabilize spending on big-ticket items and promote recovery in consumption of consumer services. We should...
"While fighting against COVID-19, our domestic and overseas colleagues have been making efforts to promote the resumption of oil production to ensure the domestic and global supply," said Xie Yuxin, manager of the market development department of the Daqing Oilfield of the China National Petroleum...
Investment in offshore oil and gas exploration is expected to increase further, with more than half of this year's domestic oil increment likely to come from offshore sources, she said, adding that the country's ongoing investment and focus on upstream production will be crucial for ensuring ...
BEIJING, March 22 (Xinhua) -- China's production of natural gas and crude oil kept growing in the first two months, according to data from the National Bureau of Statistics. Domestic crude oil output rose 3.7 percent year on year to 32 million tonnes from January to February, while imports...