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China vows to stabilise oil and gas output in new 5-year plan as global risks mount (www.scmp.com)

submitted 3 weeks ago by rss@news.abolish.capital to c/china@news.abolish.capital

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Against the backdrop of oil prices surging past US$100 per barrel for the first time since the onset of the Russia-Ukraine war in 2022, China has its sights set on strengthening energy security by stabilising domestic crude production and strategic backups – exemplified by coal-to-oil and gas projects – for the next few years. The nation pledges to maintain annual crude production at 200 million tonnes, ensure a steady rise in natural gas output, and bolster technical readiness for coal-derived...

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