Oil Reserves26 billion barrels
Oil Production3.98 million bopd
Gas Reserves8.4 tcm
Gas Production209.2 bcm
China boasts the second largest economy and largest population in the world. In addition, the country occupies the top spot in crude oil imports and the fourth spot in production figures, making it a central figure in the global energy markets. Three national oil companies in China, China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec Corporation) and China National Offshore Oil Corporation (CNOOC), account for the lion’s share of upstream and downstream oil and gas activity in the country.
Currently, China is undergoing a shift in focus from a country with economic drivers based in manufacturing and heavy industries to one based in services and domestic consumption. Adding to the nation’s economic shift, the Chinese government is determined to curb environmental pollution by switching its heavy reliance on coal burning to cleaner energy sources such as natural gas.
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Former prime minister of Peru and current president of the Peruvian Hydrocarbons Society Beatriz Merino speaks to TOGY about the government’s efforts to improve the…
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Wang Tianpu, former general manager of Sinopec Group, Asia’s largest oil refiner, was expelled from the Chinese Communist Party on Thursday. A criminal case has been…
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The Russian company Gazprom signed a memorandum of understanding with the state-controlled China National Petroleum Corporation on Thursday to increase gas flow from…
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