A shale gas development demonstration in Guangxi
China’s oil majors making gas shift
PetroChina, Sinopec and CNOOC are aiming to rebalance their energy mixes but face technically difficult deepwater and shale task
China’s state-owned oil companies are targeting more domestic gas output this year as they look to shift their hydrocarbon production mix away from crude amid tentative signs that Chinese demand for motor fuels has plateaued. Beijing’s dash to gas will support domestic production growth, but the NOCs face challenges in unlocking more output from deeper, more complex resources. China has managed to increase annual gas output by an average of 13bcm for the past six years, a streak the central government is keen to maintain as consumption continues to rise. PetroChina, Sinopec and CNOOC—which together accounted for 82% of China’s gas output in 2024—are in the final year of seven-year action pla
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
