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
Also in this section
20 June 2025
The scale of energy demand growth by 2030 and beyond asks huge questions of gas supply especially in the US
20 June 2025
The Emirati company is ramping up its overseas expansion programme, taking it into new geographic areas that challenge long-held assumptions about Gulf NOCs
19 June 2025
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
19 June 2025
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
