China’s Oil and Gas Output Exceeds 400 Million Tonnes for First Time in 2024
China’s crude oil and natural gas output has reached a significant milestone, exceeding 400 million tonnes of oil equivalent for the first time in 2024, according to the National Energy Administration. This achievement marks a sustained growth streak of over 10 million tonnes for the eighth consecutive year, solidifying China’s position as a leading energy producer.
Crude Oil Production Sees Notable Increase
China’s oil and gas output soared in 2024. Crude production hit 213 million tonnes, marking a significant rise from 2018. This increase represents a 24 million tonne jump over six years. Furthermore, the nation’s efforts to boost petroleum extraction have paid off handsomely. As a result, the country has strengthened its energy security. Additionally, this growth helps meet the rising demand for fossil fuels. Consequently, China’s petroleum industry continues to expand and thrive.
Natural Gas Production Remains Strong
China’s oil and gas output has surged impressively. Natural gas extraction skyrocketed to 246.4 billion cubic meters. Over six years, the nation’s fuel production swelled by an average of 13 billion cubic meters yearly. This consistent growth reflects China’s commitment to cleaner energy sources. As a result, the country has prioritized expanding its methane infrastructure. Moreover, this increase aligns with broader environmental objectives. Consequently, the nation steadily reduces its dependence on more polluting energy sources. This shift demonstrates China’s dedication to a greener future.
Offshore and Unconventional Reserves Drive Growth
Offshore and unconventional reserves have become the primary contributors to production growth. For example, China’s shale oil output surged to 6 million tonnes in 2024, marking a year-on-year increase of over 30 percent. This significant growth is attributed to the country’s focus on developing its shale oil reserves, which are expected to play a crucial role in meeting future energy demands.
Shale Gas Production Remains Strong
Additionally, China’s shale gas production remained strong, exceeding 25 billion cubic meters, according to the administration. This growth in shale gas production is crucial in reducing China’s reliance on imported energy sources and decreasing its carbon footprint.
In conclusion, China’s oil and gas output has reached a significant milestone, exceeding 400 million tonnes in 2024. The sustained growth in crude oil and natural gas production, driven by offshore and unconventional reserves, is a testament to the country’s commitment to its energy goals. As the world’s largest energy consumer, China’s achievements in oil and gas production will have a significant impact on the global energy landscape. With a continued focus on developing its energy resources.
Source: Xinhua