A shale gas development demonstration in Guangxi
China’s oil majors making gas shift
PetroChina, Sinopec and CNOOC are aiming to rebalance their energy mixes but face technically difficult deepwater and shale task
China’s state-owned oil companies are targeting more domestic gas output this year as they look to shift their hydrocarbon production mix away from crude amid tentative signs that Chinese demand for motor fuels has plateaued. Beijing’s dash to gas will support domestic production growth, but the NOCs face challenges in unlocking more output from deeper, more complex resources. China has managed to increase annual gas output by an average of 13bcm for the past six years, a streak the central government is keen to maintain as consumption continues to rise. PetroChina, Sinopec and CNOOC—which together accounted for 82% of China’s gas output in 2024—are in the final year of seven-year action pla
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