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...
"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...
In 2020, it became the first oilfield in China to pass the 60-million-tonne mark in annual oil and gas output, a landmark in China's energy history. The output accounted for one-sixth of the total domestic oil and gas production. Changqing oilfield, with over 50 years of history, has ...
china's oil demand continued to rise in the first halfof 2004. The oil consumption totaled 133.336 milliontons for the January-May period, a growth of 21.74percent over figures for the same period last year. Crudeproduction reached 85.71 million tons, up 1.9 percentfrom figures for the same ...
China Petrochemical Corp, Asia's largest refiner by volume and also known as Sinopec, said on Sunday that its revenue in 2022 reached 3.32 trillion yuan, a 21.1 percent year-on-year increase. Profit attributable to shareholders was 66.15 billion yuan. Domestic oil and gas production hit a reco...
According to the Commodity Analysis System of SunSirs, as of July 9th, the average price of domestic fuel oil 180CST was 4,878.00 RMB/ton (including tax), which is the same as the price of 4,878.00 RMB/ton on July 3rd. On July 10th, the fuel oil commodity index was 98.79, ...
In 2012, the DICP and Shaanxi Yanchang Petroleum Group jointly carried out the project on ethanol production technology from coal syngas. On January 11, 2017, the 100,000-ton-capacity coal-based ethanol project with China's domestic technology was completed to produce qualified absolute ethanol. ...
China's domestically-built floating production storage and offloading vessel “Ocean Oil 122” completed its main body construction in Qingdao, East China's Shandong Province, China National Offshore Oil Corporation announced on Thursday. The vessel has a maximum of 90 meters in diameter, with a ...
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...
China Tries to Boost Domestic Oil OutputWayne Ma