China cuts oil production target to 193 million tons in 2020

Time:2020-06-24 09:51:11      Source:Globaltimes.com
China's oil production target has been adjusted to 193 million tons in 2020 with natural gas output of 181 billion cubic meters, according to a document released by the National Energy Administration on Monday.
 
An oil production target of 200 million tons has been set for the past few years.
 
An industry insider told the Global Times that oil output at some mature oilfields such as Daqing oilfield is expected to drop as few new oil blocks are put into production this year.
 
The document also said that national energy consumption in 2020 will be no more than 5 billion tons of standard coal.
 
Coal consumption will be cut to about 57.5 percent in the energy structure, and the installed capacity of non-fossil fuels is expected to hit 900 million kilowatts, according to the document.
 
China will further promote clean heating projects including coal-to-gas switching with an additional clean heating area this year of about 1.5 billion square meters, said the document. 
 
 
Index RMB/t DoD Basis Date
Datong 5500 450 0 ex-mine 06-20
Shuozhou 5200 435 0 FOR 06-20
Ordos 5500 415 0 ex-mine 06-20
Yulin 6200 535 0 ex-mine 06-20
Liulin Low-sulphur 560 0 ex-mine 06-20
Gujiao Low-sulphur 1095 0 FOR 06-20
Xingtai Low-sulphur 1210 0 ex-Factory 06-20
Yangquan PCI 770 0 FOR 06-20
Index RMB/t WoW WoW% Date
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