Launched in 2019 the OIES China Energy Research Programme, is a center of analytical excellence offering insights into the factors that inform China’s energy policies and choices and their pivotal role in global energy markets.
China is the world’s second largest economy, biggest importer of crude oil, the fastest growing consumer of natural gas as well as the world’s top coal producer and emitter of CO2. The country is endowed with vast reserves of oil, gas and coal all of which it aims to develop in order to enhance its energy security, but, it is also seeking to spearhead a technological revolution in support of its energy transition.
In light of its voracious appetite for energy, its domestic resource potential and its technological ambitions, the way in which China chooses to develop its domestic resource base, consume energy and engage with global markets is of extreme importance to producers, consumers and traders of energy. But the country’s command economy, alongside the dominance of state-owned companies still inform policy design and implementation and are key to understanding the evolution of China’s energy mix and markets.
The China Energy Programme at OIES delves into these developments and offers insights into the factors that inform China’s energy policies and choices.
The Programme is grateful to its Sponsors for their support, without which its research would not be possible.
Research is carried out by the programme staff in close coordination with the other OIES programmes and in collaboration with leading researchers and institutes in China and the West. Research will be disseminated via a dedicated research paper series, energy comments, sponsors’ visits, and specialised events.
For information about the programme and questions, please email: Michal Meidan
China’s oil demand has almost grown by over 9 mb/d over the past two decades, accounting on average for one-third of global oil demand growth every year. Going forward, however, its oil use is expected to grow by 3–4 mb/d by 2040. Much of the new consumption is estimated to come from rising incomes and […]
China’s oil demand has almost tripled over the past two decades, accounting on average for one-third of global oil demand growth every year. China is set to dominate future growth as well, as it will overtake the US as the world’s largest economy. But the pace of the country’s oil consumption is slowing while the […]
The global oil demand shock due to the COVID-19 pandemic has sent markets and benchmarks into turmoil. In the height of the demand shock, WTI traded at negative values while the divergence in Middle Eastern benchmarks was laid bare. Excess supply of oil naturally gravitated to China, the biggest oil importing country in the world, […]
China has pledged to peak carbon emissions by 2030 under the Paris Agreement. Decarbonization of its coal-dominant power sector will be key to fulfilling this goal as natural gas emits around 50% less greenhouse gas emissions than coal when used in electricity generation. With the rapid deployment of variable renewables, gas-fired power plants could also […]
2020 is a pivotal year for China’s upstream sector. It is the final year of the 13th (Five Year Plan, FYP); the second year in the oil companies “Seven-Year Production Increase Plan”, and it is also the inaugural year of domestic upstream liberalization. All these plans are aimed at supporting domestic production of oil and […]
China’s emergence as a global economic power and energy consumer has shaped global energy production and trade flows. In the fossil fuel world, though, China was a technology follower and a price taker. In the energy transition, China is likely to play a vastly different role. Government-supported efforts to spur innovation have coincided with growing […]
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