China's total oil and gas production exceeds 400 million tons of oil equivalent for the first time

On January 23, 2025, it was learned from the regular press conference of the National Energy Administration that in 2024, China's total oil and gas production exceeded 400 million tons of oil equivalent for the first time, playing a "ballast stone" role in increasing oil and gas production, ensuring supply and stabilizing prices in China. Among them, crude oil production reached 213 million tons, close to the historical peak, and natural gas production reached 246.4 billion cubic meters, increasing production by billions of cubic meters for eight consecutive years.

In terms of focusing on the construction of oil and gas production capacity projects, Hu Jianwu, Deputy Director of the Petroleum and Natural Gas Department of the National Energy Administration, said that the National Energy Administration focuses on four major areas: "deep land, deepwater, unconventional, and old oil and gas fields", organizes the preparation of exploration and development implementation plans for key areas, and promotes the accelerated development of offshore oil and gas and shale oil and gas. The total output of marine oil and gas for the whole year exceeded 85 million tons of oil equivalent, setting a new historical high. Shale oil production has exceeded 6 million tons, a year-on-year increase of over 30%. Shale gas production has reached over 25 billion cubic meters, maintaining sustained and stable growth.

The Deputy Director stated that in 2025, the National Energy Administration will continue to focus on increasing investment, increasing workload, promoting key projects, advancing risk exploration, and strengthening the implementation of reform measures. This will ensure that the country's crude oil production remains stable at over 200 million tons and natural gas production continues to increase, firmly guaranteeing the security of national oil and gas supply.