Oil & Gas

19 Sep 2021

China's Oil Consumption Seen Peaking Around 2026, Sinopec Exec Says

19 Sep 2021  by Reuters   

China's oil consumption is likely to peak around 2026 at 800 million tonnes, or about 16 million barrels per day, according to a top executive of Sinopec Corp.

China's natural gas consumption is forecast to peak around 2040 when demand is estimated at 620 billion cubic meters, Ma Yongsheng, Sinopec's acting chairman told a seminar in Beijing on Thursday that was confirmed by a company representative on Friday.

Natural gas will become China's top fossil fuel resource around 2050, Ma said.


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