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China targets 440 mln tonnes of oil, gas supply by 2030

China

China

China

China targets 440 mln tonnes of oil, gas supply by 2030

2026-08-18 10:49 Last Updated At:12:04

China's domestic oil and gas supply is expected to reach 440 million tonnes of oil equivalent by 2030 under a new five-year plan for the sector, the National Energy Administration (NEA) said on Monday.

The plan, jointly issued by the NEA and the National Development and Reform Commission, also sets targets to add 20,000 km of long-distance oil and gas pipelines by 2030. This will bring the country's total pipeline network to 220,000 km.

"Oil and gas are key sources of energy and industrial raw materials, with their supply closely linked to China's energy security and people's livelihoods," it notes.

Under the new plan, China aims to raise its natural gas reserves to the equivalent of more than 13 percent of national consumption, and bring the annual carbon dioxide injection from carbon capture and storage as well as carbon capture, utilization and storage (CCS/CCUS) projects to 10 million tonnes by 2030.

The plan focuses on two major tasks: ensuring energy security and promoting green and low-carbon development.

"On the one hand, we will continue to intensify exploration and development, boost reserves and production, extend oil and gas pipeline networks, improve peak-shaving capacity, diversify import systems, and continuously enhance the ability to ensure a safe and stable supply of oil and gas and respond to risks. On the other hand, we will advance green and low-carbon development, actively and steadily peak oil consumption, promote the clean and efficient use of natural gas, and accelerate the integrated development of oil and gas with new energy, hydrogen energy, CCUS (Carbon Capture, Utilization and Storage), and new-type energy storage," said Yang Jun, deputy director of the Oil and Gas Department of the NEA.

It sets out a goal of building a modern oil and gas industry with a stronger domestic supply capacity, more efficient pipeline networks, adequate and flexible reserves, greener production, safer and more efficient operations, higher-value processing and utilization, breakthroughs in homegrown technologies and more diversified international cooperation.

Key tasks include stepping up oil and gas exploration and production, expanding infrastructure, strengthening oil and gas reserves, deepening international cooperation, accelerating the green transition and development of new quality productive forces, boosting technological innovation and deepening reforms in the oil and gas sector.

The plan also calls for coordinated development of oil and gas with renewable energy and associated resources. Oil and gas fields and surrounding areas will be encouraged to develop solar, wind and geothermal energy in an orderly manner, raise electrification rates and build green, low-carbon and zero-carbon oil and gas fields.

China's total oil and gas output reached a new record of 420 million tonnes of oil equivalent in 2025, marking a notable improvement in the country's independent energy security capacity, official data showed.

China targets 440 mln tonnes of oil, gas supply by 2030

China targets 440 mln tonnes of oil, gas supply by 2030

Fifty-three percent of U.S. voters feel they are worse off financially since U.S. President Donald Trump took office in January 2025, compared with only 21 percent who said they are better off, according to a recent poll by the Financial Times.

The poll also showed clear partisan cleavages, with almost 80 percent of Democrats saying they are worse off under Trump, as opposed to 23 percent of Republicans who said the same.

Meanwhile, 64 percent of voters found that the U.S. economy is going in the wrong direction, while only 25 percent said it is going in the right direction.

Eighty-six percent of Democrats believe the economy is heading in the wrong direction, while the share among Republicans stands at 37 percent.

Overall, 55 percent of voters disapprove of the job Trump was doing as president, the poll found. They were especially dissatisfied with his handling of inflation and the cost of living, jobs and the economy, tariffs and trade and Iran.

The findings highlight the significant challenges facing Trump and the Republican Party ahead of November's midterm elections, as public dissatisfaction grew with the war in Iran, which has pushed up borrowing costs, petrol prices and the cost of living, said The Financial Times.

The online August poll reflected the opinions of 1,913 registered voters.

Poll shows most U.S. voters feel worse off financially since Trump took office

Poll shows most U.S. voters feel worse off financially since Trump took office

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