China to Boost Oil, Gas Output in 2020

Muyu Xu
Monday, June 22, 2020
South China Sea - Illustration only - Credit: corlaffra - AdobeStock

China aims to produce 1% more crude oil this year than in 2019 and to boost natural gas output by 4.3%, official targets showed on Monday, as the country seeks to safeguard energy security even after a coronavirus-driven collapse in oil prices.

The world's biggest energy consumer has set a goal of producing 193 million tonnes of crude, or 3.85 million barrels per day, in 2020, and 181 billion cubic meters of gas, according to an annual production plan released by the National Energy Administration (NEA).

Those numbers compare to actual output of around 191 million tonnes of crude and 173.62 bcm of gas last year.

The NEA said it would focus on expanding its four key energy production bases to achieve the goals - one offshore in Bohai Bay in northern China, as well as onshore in Sichuan province in the southwest, in the Erdos Basin and in the far western Xinjiang region.

It also aims to push forward development of so-called new energy - including renewables, fuel ethanol, and coal-to-liquids - in order to improve its capability to replace conventional hydrocarbons.

The annual plan also set a target of having around 900 gigawatts of installed non-fossil fuel power generation capacity in 2020 and further lowering the share of coal in China's primary energy mix to around 57.5%.

Coal's share in China's energy consumption slipped to 57.7% in 2019, although coal usage was still up 1% year-on-year in tonnage terms.

Installed non-fossil fuel power generation capacity - consisting of hydro, solar, wind, and nuclear power - stood at just below 820 GW at the end of 2019, NEA figures show. 

(Reporting by Muyu Xu and Tom Daly; Editing by Susan Fenton)

Categories: Energy Activity Production Asia China

Related Stories

China Rolls Out 17MW Floating Wind Turbine Prototype

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

CNOOC Finds Oil and Gas in South China Sea

CNOOC Finds Oil and Gas in South China Sea

EnQuest Acquires Harbour Energy’s Vietnamese Assets

EnQuest Acquires Harbour Energy’s Vietnamese Assets

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Starts Production at Offshore Field in South China Sea

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Current News

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Woodside Finds South Korean Partners to Advance LNG Value Chain

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com