Analysis of Global Power Market
Analysis of China's Power Operation Market
Production Level of Major Fuels (2/3)
Production Volume of Crude Oil, China, 2013-2018
Million Tonnes
CAGR:-1.9%
220
208.1
211.4
214.7
199.7
200
191.5
189.1
180
160
140
120
100
80
60
882
40
20
0
2013
2014
2015
2016
2017
2018
Highlights
During past years, production volume of crude oil
in China fell from 208.1 million tonnes in 2013 to
189.1 million tonnes in 2018, representing a CAGR
of -1.9%.
Particularly, the continuous decrease in the
production volume of crude oil during 2016 to 2018
is mainly contributed by limited reserves of fossil
resources, deteriorating business profitability due
to low crude oil price and high excavation cost.
Lacking technological breakthrough relating to the
exploration of unconventional oil field together with
the increasing difficulties on excavating existing
resources affected the production volume of crude
oil in China, not even to mention the gloomy
investment sentiment on oil exploration, as more
capitals are flowing into clean energy (e.g. natural
gas) exploration projects.
Source: NBS, Frost & Sullivan
FROST
&
SULLIVAN
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