The Council of the European Union (EU) on Monday formally adopted the European Defense Industry Programme, aiming to boost the EU's defense readiness.
The programme supports common procurement among member states, ramps up production capacity of critical defense products, and activities to increase interoperability and interchangeability, said the council, adding that it also supports Ukraine's defense industry through a dedicated instrument.
It will provide 1.5 billion euros in grants for the period 2025-2027, out of which 300 million euros are earmarked for Ukrainian support, according to the council.
The adoption marks the final step in the legislative procedure. The regulation will be signed on Dec 17 and enter into force on the day following its publication in the Official Journal of the European Union, the council said.
EU Council adopts defense industry programme to boost readiness
EU Council adopts defense industry programme to boost readiness
EU Council adopts defense industry programme to boost readiness
China's crude oil production is expected to reach a historic high of 215 million tons in 2025, according to the latest data released by the National Energy Administration on Tuesday.
During the 14th Five-Year Plan period (2021-2025), China has added a total of 105 million tons of new crude oil capacity, with offshore oil emerging as a key growth driver, accounting for over 60 percent of the country's new oil output for five consecutive years, according to the data.
Meanwhile, China has maintained nine years of consecutive growth in natural gas, with production continuing to expand by hundreds of millions of cubic meters annually. The country remains the world's fourth-largest natural gas producer, with a sustained position of strength, the National Energy Administration said.
By the end of 2025, China's natural gas output is projected to reach 260 billion cubic meters, representing a 35 percent increase from the end of the 13th Five-Year Plan period (2016-2020), according to the data.
During the 14th Five-Year Plan period, China also saw the addition of 10 super-large oil fields, each with reserves exceeding 100 million tons, and 19 giant gas fields with proven reserves over 100 billion cubic meters. Total proven geological reserves in the country have increased by approximately 43 percent for oil and 40 percent for natural gas compared to the previous Five-Year Plan period, with additional proven reserves of 7 billion tons of oil and over 7 trillion cubic meters of natural gas.
By far, China's oil and gas pipeline network has expanded to 195,000 kilometers, accelerating the formation of a national pipeline network.
"During the 14th Five-Year Plan period, China's investment and workload in oil and gas exploration and development have remained at historically high levels. A continuous emergence of scientific and technological innovation achievements has led the oil and gas industry into a new stage of both increased volume and efficiency as well as green development. A modern oil and gas production, supply, storage and sales system that is safer, more efficient, open and resilient has been established, providing a solid guarantee for national energy security and the steady development of the economy and society," said Hu Jianwu, deputy director of the Department of Petroleum and Natural Gas under the National Energy Administration.
China to set new records in crude oil production in 2025: data
