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China’s oil, gas output exceeds 400m tonnes for the first time
China’s crude oil and natural gas output exceeded 400 million tonnes of oil equivalent for the first time in 2024.
The country’s National Energy Administration disclosed this in a report on Tuesday.
It added that China’s crude oil and natural gas output has sustained a robust annual growth streak of over 10 million tonnes for the eighth consecutive year.
Crude oil production reached 213 million tonnes in 2024, an increase of 24 million tonnes from 2018, while natural gas production reached 246.4 billion cubic meters.
READ ALSO: OPEC+ cuts, China’s increased imports push oil prices up, Bonny Light gains $2.90
It has an average annual growth of over 13 billion cubic meters in the past six years.
Offshore and unconventional reserves have become the primary contributors to production growth.
For instance, China’s shale oil output surged to 6 million tonnes in 2024, marking a year-on-year increase of over 30 percent.
“China’s shale gas production remained strong, exceeding 25 billion cubic meters,” the administration stated.
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