Renewable Energy Production Slows down due to Lack of Transformers
China to Boost Oil and Gas Production from New Sources in 2024
By Shubhendra Anand , 12 December, 2024
China is the leading nation in the energy market. Since the clean energy transition focuses on renewables, China surpasses other nations in renewables production. In a mission to strengthen its energy security, China moves forward with oil and gas production in 2024. The nation announces forming a group with all major oil companies in 2024. Additionally, this group will work towards oil and gas production from new sources in China.
China decided to have one major company under which other state oil and gas majors will be working. The nation's plans for strengthening the oil and gas sector appear decisive to energy sector experts. China is the leading company in the global market to produce renewable energy, such as wind and solar. However, China's plan to stick to renewable production has a new twist. The energy leaders find it surprising with China's move towards oil and gas production in 2024. Some experts claim that China's decision to increase oil and gas production will have positive results in the future. Since the clean energy transition is enhancing daily, countries with larger populations like China should delve into renewable production only. This is because most carbon emissions come from developing countries with growing populations. Recently, a survey in 2024 reported that China produces a higher rate of emissions despite being the leading producer of renewables.
Another survey suggests that China's main motto behind this new venture differs. The hub of companies from the oil industry will team up to explore the oilfields. Additionally, it anticipates covering all the domestic oilfields in China. This exploration of the country's oilfields in 2024 will ultimately increase the oil and gas production rate. Hence, it will be a security measure in China's energy sector. China is known to be a leader in innovations in the energy market. The nation became the leader of the automotive industry, with a large number of electric vehicles produced to reduce carbon emissions. China is preparing for oil and gas production from unconventional sources, but clean energy will be the country's priority. Manufacturing of oil and gas from unconventional sources remains challenging for China. Moreover, experts reveal that energy security remains a priority for China even when not in need.
China National Offshore Oil Corporation (CNOOC) data for domestic oil production targets in 2023
Latest News
Renewable Energy Production Slows down due to Lack of Transformers
Renewables are in high demand in the energy market in 2024. It is due to a clean energy transition that requires a constant flow of renewables in the energy market. The green transformation to combat climate change brings about several environmental…
Packaging Manufacturer Collabs with Solar Projects to Enhance Cleantech in 2024
Companies are making significant moves towards the clean energy transition in various ways. In order to reduce carbon emissions, certain companies are investing in several rescue methods in 2024. Renewables production is growing over time as the…
Amazon Enables News Technologies to Help its Business Customers
Amazon is one of the leading global e-commerce platforms for consumers. The brand boosts its online shopping experience for users in multiple ways. Surveys show that Amazon regulates several business solutions to increase its products and services…
Asian Carbon Emissions Affects West’s Clean Energy Transition Process in 2024
Globally, countries are facing challenges in the transformation of green energy. The economies worldwide target to achieve net zero emissions. Hence, countries are introducing several ways to reduce environmental carbon emissions. Developing…
China to Boost Oil and Gas Production from New Sources in 2024
China is the leading nation in the energy market. Since the clean energy transition focuses on renewables, China surpasses other nations in renewables production. In a mission to strengthen its energy security, China moves forward with oil and gas…
Shubhendra Anand
Head Research
