3/22, 11:55 AM (Source: TeleTrader)
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China to increase oil, gas production by 2025

The Chinese National Energy Commission (NEC) revealed on Wednesday its plan to increase the cumulative production of oil by more than two million tons and natural gas by around three billion cubic meters by 2025.

The agency unveiled its goal in the Action Plan to Accelerate the Integration of Oil and Natural Gas Development with Renewable Energy for 2023–2025 in an effort to steadily increase the supply of oil and gas by 2025, as well as to urge producers to turn to green energy for its operations.

In December, China signed an agreement with Iran on the joint development of oil and gas fields.

Baha Breaking News (BBN) / JR