China Never Sleeps: Oil & Gas Still Matter

China Never Sleeps: Oil & Gas Still Matter On November 21, 2023, China’s state-owned oil companies will gradually increase their investments. CNOOC will add 20 billion yuan, and PetroChina will also expand its investment. This increase is due to the tense international energy situation and the growth of the Chinese economy, with a strong industrial performance in 2023. Investments of Chinese oil giants and the international energy situation The green transition and the electric transition could hand over the global automotive market to China. CNOOC and PetroChina will increase investments in response to the international energy situation. China is increasing oil and gas production to reduce dependence on external energy sources.