Xin Lang Cai Jing·2026-01-24 10:17Core Viewpoint - China National Petroleum Corporation (CNPC) has achieved a significant milestone with shale oil production exceeding 7 million tons, marking a new phase in the large-scale development of continental shale oil, which is crucial for national energy security [1] Group 1: Unconventional Oil and Gas Development - Unconventional oil and gas, including shale oil, tight oil, and coalbed methane, require new technologies for economic extraction, as traditional methods are insufficient [2] - China ranks third globally in shale oil recoverable reserves and has substantial shale gas resources, with over 40 trillion cubic meters of coalbed methane predicted [2] - Since the 14th Five-Year Plan, CNPC has intensified exploration and development of unconventional oil and gas, achieving significant production increases across various basins [2][3] Group 2: Shale Oil Production Achievements - In the Ordos Basin, the Changqing Oilfield has reached a cumulative shale oil production of over 20 million tons, becoming the first continental shale oil field to achieve large-scale development [3] - The Jimsar National Shale Oil Demonstration Zone in the Junggar Basin has produced over 1.7 million tons of shale oil annually, addressing major global challenges in resource extraction [3] - The Daqing Gulong Shale Oil National Demonstration Zone aims to exceed 1 million tons of production by 2025, contributing to the long-term sustainability of oil fields [3] Group 3: Coalbed Methane Development - Coalbed methane is gaining international recognition, with geological resources in China estimated at 50 trillion cubic meters [4] - CNPC has identified three major gas fields in the Ordos Basin, with geological reserves surpassing 500 billion cubic meters [4] - By 2035, China aims to establish a production capacity of over 30 billion cubic meters of coalbed methane, which is vital for energy security [4] Group 4: Technological Innovations - CNPC has developed key technologies for coalbed methane extraction, enhancing production capabilities [6] - The company has shifted from relying on North American techniques to developing its own methods tailored to China's geological conditions, resulting in improved extraction efficiency [6][7] - The Gulong shale oil field has seen successful application of innovative extraction techniques, leading to high production rates [7] Group 5: Green Initiatives - CNPC has reached a strategic goal of "clean substitution" in its renewable energy business, integrating green low-carbon principles into unconventional oil and gas development [9] - The company has implemented measures to reduce land use and enhance production cleanliness, including advanced drilling techniques that minimize environmental impact [9][10] - CNPC is utilizing carbon dioxide in extraction processes, achieving both increased oil production and carbon storage, contributing to dual goals of production and carbon reduction [10] Group 6: Future Outlook - The apparent consumption of natural gas in China is projected to reach 426.05 billion cubic meters in 2024, with unconventional gas playing a crucial role in energy structure optimization and carbon neutrality goals [11] - CNPC aims to enhance innovation and scientific research in unconventional resources, focusing on digital transformation and improved management practices [11]