China’s gas production grows apace
State firms saw their gas production gains outpace those of crude in the first nine months of 2021
China’s economy and energy demand rebounded in 2021 as the country emerged from the worst of the pandemic disruption. In response, state oil companies Cnooc, Sinopec and Petrochina—a subsidiary of CNPC—have continued their programmes of upstream expansion, with a particular emphasis on gas and domestic production, in line with Beijing’s stated energy security and emission reduction goals. Cnooc’s gas and liquids production rebounded in 2021, with combined output increasing to 422mn bl oe over the first three quarters of the year, up by 8.5pc from 389mn bl oe over the same period in 2020. Gas production climbed by 6.6pc, to 495bn ft³ (14bn m³, or 51.3mn m³/d), while—in contrast to the other t
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks