Official release of China's oil and gas supply data, China's crude oil imports in the first three months increased by 8.9% year-on-year.

On April 27th, the National Energy Administration held a quarterly press conference to give a brief introduction on the national energy situation in the first quarter of 2026. Question: Recently, the energy crisis caused by the Middle East conflict has affected many countries. How is the supply guarantee of oil and gas resources in China currently? Zhang Xing, Deputy Director of the Comprehensive Department of the National Energy Administration, said that since the 14th Five-Year Plan, the National Energy Administration has adhered to a new strategy for energy security, starting from strategic thinking and systemic thinking, based on the country's status as a world energy producer, consumer, and importer. It coordinates the use of "two markets, two resources" globally and domestically, actively promotes the high-quality development of the oil and gas industry, and ensures the security and supply capacity under various circumstances. Firstly, efforts are being made to significantly increase oil and gas exploration and development, steadily increase domestic oil and gas production, maintain an annual crude oil production of over 200 million tons and achieve record highs, and continue to increase natural gas production by over 10 billion cubic meters for 9 consecutive years. Secondly, efforts are being made to accelerate the planning and construction of oil and gas infrastructure, with the mileage of long-distance oil and gas pipelines exceeding 200,000 kilometers, and the national oil and gas "network" further expanded, with a total LNG receiving capacity exceeding 120 million tons per year. Thirdly, efforts are being made to continue to consolidate and improve the construction of a diversified oil and gas import system, conducting oil and gas trade cooperation with nearly 50 countries globally, with imports covering major oil and gas exporting countries in the world, ensuring stable and reliable oil and gas imports. In addition, efforts are being made to continue reliable and orderly substitution of oil and gas consumption. With the common support of the above-mentioned work, the resilience and ability to respond flexibly to risks and challenges in the oil and gas industry in China have been continuously enhanced. Since the beginning of this year, the National Development and Reform Commission and the National Energy Administration have diligently implemented the decisions and arrangements of the Party Central Committee and the State Council, actively responded to changes in the external environment in collaboration with relevant parties, and made every effort to ensure a stable and orderly supply of oil and gas through stable production, diversified imports, temporary price adjustments, etc., effectively ensuring the smooth operation of the economy and meeting the needs of the people. According to industry monitoring, from January to March, China's crude oil production was 54.8 million tons, an increase of 1.3% year-on-year; crude oil imports were 146.838 million tons, an increase of 8.9% year-on-year; and crude oil processing is expected to reach 181.7 million tons, an increase of 3.1% year-on-year.