According to an annual production plan released by China’s National Energy Administration (NEA), the country aims to raise its target for oil and natural gas output for 2020 as the country plans to secure energy security even after oil prices are clashed by the coronavirus pandemic.
China’s production target this year showed a 1% yearly increase in crude production to 193 million tonnes or 3.85 million bpd and a 4.3% annual jump for natural gas to 181 bcm.
NEA would strive to expand its four key energy production bases to achieve the goals. One offshore base in Bohai Bay in northern China, onshore in Sichuan province in the southwest, one in the Erdos Basin and one in the far western Xinjiang region.
NEA would also boost the development of new energy including renewables, fuel ethanol, and coal-to-liquids in order to strengthen its capability to replace conventional hydrocarbons.
Regarding the non-fossil fuel power generation capacity, this year China’s target would be having around 900 GW installed.
In 2019, China’s coal usage was still up by 1% on a yearly basis in tonnage terms, but coal’s share in the country’s energy consumption tumbled to 57.7%. Meanwhile, installed non-fossil fuel power generation capacity was around 820 GW at the end of the year.
