China vows to stabilise oil and gas output in new 5-year plan as global risks mount

South China Morning PostEN 1 min read 100% complete by Carol YangMarch 9, 2026 at 03:30 PM

AI Summary

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China's new five-year plan focuses on stabilizing domestic oil and gas production to bolster energy security amid rising global risks and surging oil prices. The plan, released Thursday, aims to maintain annual crude production at 200 million tonnes and increase natural gas output through 2030. It also emphasizes technical readiness for coal-derived fuel. This initiative seeks self-sufficiency in meeting core oil and gas demands by expanding reserves and ramping up production. The plan targets an overall energy production capacity equivalent to 5.8 billion tonnes of standard coal by 2030, a significant increase from previous goals, as global oil supplies are threatened by Middle East conflict.

Key Entities & Roles

Key Player Opposition Context

Ukraine 50% Russia 50% National Energy Administration 50% United States 60% Donald Trump 60% Middle East 60% West Texas Intermediate 70% Brent Crude 70% Strait of Hormuz 70% China ×490%

Keywords

energy security 90% oil and gas 80% crude production 70% five-year plan 70% coal-to-oil and gas 60% global oil supplies 60% strategic reserves 50% oil prices 50% natural gas output 50% self-sufficiency 40%