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  • China sets oil, gas supply targets by 2020

    China  aims to increase domestic crude oil output to 200 million tonnes by 2020, while supply 

    capacity for natural gas should exceed 360 billion cubic meters, according to plans published 

    Thursday. 


    China  will  add 1 billion tonnes of proven oil reserves annually from 2016 to 2020, according 

    to the five-year plan released by the National Development and Reform Commission and the 

    National Energy Administration. 


    Major tasks for the oil industry include accelerating exploration to ensure domestic oil supply, 

    speeding up construction of pipeline networks and developing clean alternatives. 

    In  a  separate  five-year  plan  for  natural gas supply, authorities  said the country's proven 

    reserves of natural gas will reach 16 trillion cubic meters by 2020. 


    Proved reserves of shale gas will surpass 1.5 trillion cubic meters, the plan said. 

    Official  data  showed  China's  crude  oil  output  totaled 181.21 million tonnes in the first 11 

    months of 2016, a  year-on-year  drop of 7.2 percent, while natural gas output came in at 12

    1.1 billion cubic meters. Imports  of natural gas saw an increase of 16.5 percent to 63.4 billio

    n cubic meters during the period. 

    China is a major importer of crude oil. A recent report by CNPC Economics and Technology 

    Research Institute estimates China's reliance on oil imports exceeded 65 percent in 2016.

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