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Letter from London: Oil’s golden triangle
The interplay between OPEC+, China and the US will define oil markets throughout 2026
The curious case of oil-on-water
The market is facing being drowned in excess crude, but one caveat is that a large chunk is due to buyers reluctant to snap up sanctioned barrels
China’s oil plan comes together
The country’s rapid output growth is an example that other producers could learn from
China seizes oil security opportunity
A combination of geopolitical uncertainty and OPEC+ barrels has driven a renewed focus on building strategic oil stocks despite flagging demand
Arctic LNG comes in from the cold
Beijing now appears prepared to accept discounted Russian LNG, even at the cost of heightened sanctions risk
China’s role as oil buffer stock manager
The country’s intervention in global oil markets to stabilise prices could last well into 2026
Power of Siberia 2: Deal or no deal?
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns around over-dependence on a single supplier and desire to drive down the price make it relatively unlikely a contract will be finalised this year
China creates two-tier oil dynamic
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
India to help Asia spearhead global refining
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China wants to boost domestic oil and gas production, but self-sufficiency may prove elusive
Opinion
China Coal
Shi Weijun
Beijing
28 April 2021
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Letter from China: Coal phase-out raises energy security risk

Coal’s long goodbye means Beijing will need to brace for reduced energy security

President Xi Jinping’s commitment to start curbing coal consumption after 2025 means the beginning of the end for China’s coal era is finally in sight.  Xi pledged at the White House’s climate summit in April that China would “strictly control coal-fired power generation projects and strictly limit the increase in coal consumption” through to 2025, before ramping down coal use from 2026-2030. The timeline is later than many climate-change activists had hoped, but nevertheless represents a major turnaround for the world’s largest coal consumer. 202.5bn m³ – China’s 2021 gas target China has been making steady, if slow, progress on reducing coal as a percentage of its energy mix.

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