The China page provides information from the market, an overview of planned activities, links to key actors in China and presentations from INTSOK events on China. The People s Republic of China (China) is the world s most populous country and the second largest energy consumer (after the United States). Production and consumption of coal, its dominant fuel, is the highest in the world. Rising oil demand and imports have made China a significant factor in world oil markets.
China s petroleum industry has undergone major changes over the last decade. The government has reorganized the state owned oil and gas companiesssets into two vertically integrated firms -- the Petrochina (formerly CNPC) and Sinopec (formerly China Petrochemical Corporation). The China National Offshore Oil Corporation (CNOOC), which handles offshore exploration and production and accounts for more than 10% of China s domestic crude production. The three companies have in recent years been partly privatised and they are expanding internationally.
About China
• Population: 1,3 billion
• The largest energy consumer in the world.
• China is the world’s second-largest consumer of oil behind the United States
• Natural gas represents only 4 percent of energy consumption
• China is the world's largest producer and consumer of coal, accounting for almost half of the world's coal consumption
• Electricity generation continues to be dominated by fossil fuel sources
• The Three Gorges Dam hydroelectric facility is the largest hydroelectric project in the world
Oil
China was a net oil exporter until the early 1990s and became the world's second largest net importer of oil in 2009. China's oil consumption growth accounted for over a third of the world's oil consumption growth in 2010. China's largest and oldest oil fields are located in the northeast region of the country. International oil companies like ConocoPhillips and Husky are involved in the offshore sector. The Middle East remains the largest source of China's crude oil imports.
Oil overview 2010
• Proven oil reserves: 14,4 billion barrels
• Oil production: 4 million barrels per day
• Oil consumption: 9 million barrels per day
Major oil producers
• PetroChina (China National Petroleum Corporation)
• Sinopec
• CNOOC offshore China
Natural Gas
Natural gas usage in China has also increased in recent years, and China has looked to raise natural gas imports via pipeline and liquefied natural gas (LNG). The Chinese government anticipates boosting the share of natural gas as part of total energy consumption to 10 percent by 2020 to alleviate high pollution from the country's heavy coal use. CNPC is the country's largest natural gas company in both the upstream and downstream sector and accounts for roughly 80 percent of China's total natural gas output.
China has in recent years entered into partnership with international oil companies like Shell, Chevron and Total to explore and develop the shale gas potential and in developing gas from coal bed methane resources.
China's first import natural gas pipeline was the Central Asian Gas Pipeline (CAGP), which spans 1,130 miles and bring natural gas imports to China from Turkmenistan, Uzbekistan, and Kazakhstan.
The gas industry
• Proven natural gas reserves: 3 trillion cubic meters
• Natural gas production: 96 billion cubic meters
• Natural gas consumption: 109 billion cubic meters
Major gas producers
• PetroChina (China National Petroleum Corporation)
• Sinopec
• CNOOC offshore China
Main Markets
Other Priority Markets
