China’s Two Sessions stresses importance of oil and gas

Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order

China’s recently concluded annual political meetings in Beijing have signalled that hydrocarbons will remain a mainstay of the supply mix for the world’s biggest energy consumer as energy security remains a top priority. As the Chinese government urges NOCs to boost oil and gas production, it is also taking steps to shore up economic growth, which will be broadly supportive for energy demand. The central government held its week-long ‘Two Sessions’—concurrent meetings of parliament, the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference, a top advisory body—in the first half of March. Beijing uses the high-profile gathering every spring to unveil its