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World · 2 hours ago

China oil firms spend $343bn, boost output to 4.3m bpd.

China oil firms spend $343bn, boost output to 4.3m bpd.

Chinese state oil companies have prioritised energy security for a decade, helping cushion disruptions to Middle East supplies. Officials launched a seven-year plan in 2018 to boost drilling after domestic oil production began falling. The plan led to about 2.3 trillion yuan ($343 billion) being spent at home, raising oil output to 4.3 million barrels per day.

Reported by Reuters · How we write briefs

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