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China's major shale oil base achieves daily output of 5,000 tonnes

China

China

China

China's major shale oil base achieves daily output of 5,000 tonnes

2025-06-30 16:59 Last Updated At:23:57

The daily output of the Jimsar continental shale oil demonstration zone in northwest China's Xinjiang Uygur Autonomous Region has exceeded an all-time high of 5,000 tonnes, marking a significant breakthrough in the country's shale oil exploitation, according to China National Petroleum Corporation (CNPC).

As the first national-level shale oil demonstration zone for continental shale oil, the Jimsar zone, located in the eastern Junggar Basin of Xinjiang, covers an area of 1,278 square kilometers with estimated resources exceeding one billion tonnes.

Shale oil, categorized into continental and marine types, mainly refers to liquid hydrocarbons trapped in formations of shale rock that can be extracted for refining. It is often found in organic-rich shale and thin interlayers of carbonate rock, sandstone and siltstone.

China has abundant shale oil resources, but they are mainly continental shale oil, making exploration and production difficult.

The new daily output record will further drive the productivity of China's follow-up resource exploitation, according to CNPC.

"By 2025, the annual output of Jimsar shale oil field will surpass 1.7 million tons, fully accomplishing the construction goals of this national-level shale oil demonstration zone for continental shale oil. The key technologies and management experience developed here will provide the 'Jimsar Model' for domestic shale oil exploitation," said Du Xuebiao, manager of the Jiqing oilfield operation area of the Xinjiang Oilfield Company, a subsidiary of PetroChina under the CNPC.

China's major shale oil base achieves daily output of 5,000 tonnes

China's major shale oil base achieves daily output of 5,000 tonnes

China has allocated a second batch of ultra-long special treasury bond funds to support equipment upgrades, as authorities step up efforts to boost investment, the National Development and Reform Commission said on Thursday.

The commission said 91.5 billion yuan, or about 13.4 billion U.S. dollars, has been earmarked for more than 6,700 projects across 16 sectors.

The projects span industrial and energy systems, transport and logistics, public services such as healthcare, education and tourism, as well as environmental and recycling initiatives, and are expected to drive total investment of over 380 billion yuan, or roughly 56 billion U.S. dollars.

The funding will also support the replacement of aging trucks, electric city buses and outdated agricultural machinery. Including earlier allocations, the total funding under the program has reached 185.1 billion yuan this year (over 27 billion U.S. dollars), accounting for 92 percent of the annual quota.

Driven by the policy, investment in equipment and tools rose 13.9 percent year on year in the first quarter, accelerating by 2.4 percentage points from the January-February period and contributing 2.3 percentage points to overall investment growth.

The commission said it will work with relevant departments to strengthen oversight, improve full-cycle fund management, and accelerate project implementation and fund disbursement, to ensure fund efficiency.

China allocates 2nd batch of special bond funds for equipment upgrades

China allocates 2nd batch of special bond funds for equipment upgrades

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