The recently held 2025 International Energy Development Summit released the “2060 World and China Energy Outlook Report (2025 Edition)”. The report shows that China’s energy structure is becoming increasingly diverse and balanced. In the next 10 years, the energy structure will exhibit characteristics of coal reduction, stable oil and gas, and non fossil fuel growth; Petroleum is showing an accelerating trend towards raw material and green development, with demand shifting towards the fields of chemical products and new material manufacturing; Natural gas plays an important role in supplementing coal and supporting new power systems.
According to data from the National Energy Administration, China’s crude oil production is expected to reach 215 million tons by 2025, setting a new historical high; The natural gas production can reach 260 billion cubic meters, an increase of 35% from the end of the 13th Five Year Plan.
During the 14th Five Year Plan period, China’s oil and gas supply capacity has significantly improved, and its storage and transportation capacity has continued to increase. As of the end of the 14th Five Year Plan, the total length of crude oil and refined oil pipelines reached about 67000 kilometers, and the total length of natural gas long-distance pipelines reached about 128000 kilometers, an increase of 4% and 16% respectively compared to the end of the 13th Five Year Plan; The construction of gas storage facilities has been actively promoted, and the peak shaving capacity has been greatly improved. At the same time, the pattern of oil and gas imports has become more diversified, and the ability to guarantee resources continues to improve. As of September this year, the number of crude oil import source countries has expanded to more than 40, and the number of natural gas import source countries has expanded to more than 30.
The relevant person in charge of China Petroleum Group Economic and Technological Research Institute introduced that in the next five years, it is expected that domestic oil and gas production will show a trend of “stable oil and gas growth”. By 2030, crude oil production can maintain a stable production of 200 million tons, and natural gas production is expected to increase to 300 billion cubic meters. A batch of large-scale integrated refining and chemical projects, as well as refining and chemical transformation and upgrading projects, will be put into operation nationwide, increasing the proportion of high-end petrochemical product supply. Based on the development of green hydrogen ammonia alcohol, traditional oil and gas will accelerate the transition to green new oil and gas.