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On April 17, the Blue Books titled \"Analysis and Outlook Report on the Development of China’s Oil and Gas Industry (2024–2025)\\", \"Blue Book on the Development of China’s Low-Carbon Economy (2024–2025)\\", \"Blue Book on the Development of Refined Oil and New Energy Sources (2024–2025)\\", and \"Blue Book on the Annual Operations of China’s Natural Gas Industry (2024–2025)\\", which were jointly compiled by the China Petroleum Enterprises Association, University of International Business and Economics, China University of Petroleum (Beijing), Southwest Petroleum University, and other institutions, were released in Yangzhou. The Blue Book on the Oil and Gas Industry states that in 2024, domestic crude oil production was 212.823 million tons, refined oil production was 419.171 million tons, and natural gas production reached 246.37 billion cubic meters. In 2024, domestic crude oil production increased while imports declined; the import pattern remained stable. Crude oil processing volume dropped, and oil prices fluctuated throughout the year. Although the global economic growth rate is stabilizing, issues such as falling inflation, monetary tightening, and trade protectionism curb growth potential, significantly affecting energy demand and investment patterns. It is expected that by 2025, the energy transition and geopolitical risks will together reshape the global supply and demand dynamics for oil and gas, with natural gas likely to gain further prominence. The Blue Book on the Oil and Gas Industry emphasizes that Chinese oil and gas companies are actively engaging in international cooperation to address challenges such as geopolitical risks and regional conflicts, as well as market fluctuations. Energy transition and the \"dual carbon\" goals will give rise to new areas of focus for cooperation; international collaboration in technological innovation will also increase, with broad prospects for cooperation between China and Russia in this field. Crude oil imports are likely to continue declining in 2025, while refined oil prices may keep rising; demand for natural gas will remain strong. Chinese oil and gas companies will deepen cooperation under the Belt and Road Initiative, accelerating the advancement of green technologies and the development of their presence in global value chains. The Blue Book on a Low-Carbon Economy shows that in 2024, carbon capture and storage/Carbon Capture, Utilization and Storage (CCS/CCUS) technologies became key to achieving the \"dual carbon\" goals, with China making continuous progress in terms of policies and international cooperation. The global hydrogen industry is developing at a rapid pace, with clean hydrogen projects and investment amounts increasing swiftly. The scale of China’s hydrogen energy industry continues to grow; its shipments of electrolyzers are among the highest in the world, and the terminal applications for hydrogen energy are gradually becoming more diverse. It is expected that by 2025, China will increase its investment in CCS/CCUS, create a more comprehensive policy framework, establish a relatively complete supply chain and industrial ecosystem, and further promote the development of the hydrogen industry. The Blue Book on Refined Oil and New Energy suggests that, influenced by factors such as the substitution effect of new energy sources and a decline in industrial production activities, global demand for refined oil is expected to reach the end of its growth phase by 2025. In China, the decline in demand for refined oil will continue to widen, with a year-on-year decrease of 2.8%. By category, demand for gasoline and diesel will continue to decline, while jet fuel consumption will continue to rise. The Blue Book of the Natural Gas Industry shows that in 2024, China’s total natural gas production was 246.37 billion cubic meters, an increase of 6% compared to the previous year; total natural gas consumption was 426.1 billion cubic meters, with a growth rate of 8%. In the future, China’s natural gas production will continue to grow at a rapid pace.