Core Viewpoint - China is enhancing its domestic energy supply capabilities through significant technological advancements in unconventional oil and gas resources, particularly in shale gas exploration and development [3][11]. Group 1: Shale Gas Development - The recent discovery of the Hongxing shale gas field, with proven reserves of 1650.25 billion cubic meters, marks China's first large-scale shale gas field found in the Permian strata [3][5]. - The geological conditions of the Hongxing gas field present world-class technical challenges, with gas layers buried between 3300 meters and 5500 meters and very thin gas reservoirs [5][7]. - Chinese engineering teams have developed innovative technologies, such as the "thin-layer rich carbon shale gas enrichment theory" and advanced fracturing techniques, which have significantly increased single well test production from 89,000 cubic meters to 323,500 cubic meters per day [9][11]. Group 2: Historical Context and Achievements - The Fuling shale gas field, discovered in late 2012, was a pivotal point for China's shale gas commercialization, achieving an annual production capacity of 10 billion cubic meters by 2017 [13]. - Following Fuling, the Weirong shale gas field became China's first deep shale gas field with proven reserves exceeding 100 billion cubic meters [15]. - Additional discoveries, such as the Qijiang and Yongchuan shale gas fields, have further solidified China's shale gas development foundation [19]. Group 3: Energy Supply Strategy - China has strategically increased imports of Russian Urals crude oil, nearly doubling from approximately 40,000 barrels per day to about 75,000 barrels per day since August [21][24]. - This adjustment reflects China's mature strategy in maintaining energy security amidst international market uncertainties, supported by long-term partnerships with major energy exporters like Saudi Arabia [23]. - China's stance in international energy trade emphasizes fairness and stability, rejecting external pressures and unilateral interventions, particularly in its interactions with the U.S. [26][32].