China Oil and Gas Industry Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers China Oil and Gas Companies and the Market is segmented by Sector (Upstream, Midstream, Downstream).

China Oil and Gas Industry Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

China Oil and Gas Market Size

China Oil and Gas Market Size
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 2.00 %

Major Players

China Oil and Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of China Oil and Gas Market with other markets in Energy & Power Industry

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China Oil and Gas Market Analysis

The China Oil and Gas Market is expected to register a CAGR of greater than 2% during the forecast period.

  • The midstream segment is expected to witness significant growth in the Chinese oil and gas market during the forecast period.
  • China targets to boost domestic production of unconventional sources like shale gas. It is also estimated that China's shale gas production may reach around 280 billion cubic meters (bcm) by 2035. Thus, the plans to boost its shale gas production are expected to create an opportunity in the coming years.
  • The rising oil and gas investments, especially in the upstream and midstream sectors, are expected to drive the nation's oil and gas market during the forecast period.

China Oil and Gas Industry Overview

The Chinese oil and gas market is moderately consolidated. The key players in the market include China National Petroleum Corporation, China Petroleum & Chemical Corporation (Sinopec), China National Offshore Oil Corporation (CNOOC), ExxonMobil Corporation, and Chevron Corporation.

China Oil and Gas Market Leaders

  1. China Petroleum & Chemical Corporation (Sinopec)

  2. China National Offshore Oil Corporation (CNOOC)

  3. Exxon Mobil Corporation

  4. China National Petroleum Corporation

  5. Chevron Corporation

  6. *Disclaimer: Major Players sorted in no particular order
 China National Petroleum Corporation, China Petroleum & Chemical Corporation (Sinopec), China National Offshore Oil Corporation (CNOOC), Exxon Mobil Corporation, Chevron Corporation
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China Oil and Gas Market News

  • In June 2021, China National Petroleum Corporation (CNPC) announced the discovery of a new 1-billion-ton super-deep oil and gas area in the Tarim Basin in Northwest China's Xinjiang Uygur Autonomous Region. The discovered well is located in the Fuman Oilfield area, the main block for crude oil production in the Tarim Oilfield. Its drilling depth reached 8,470 meters, and the height of the test oil column hit 550 meters.
  • In September 2021, CNOOC Limited announced a 'large-sized discovery' on the Kenli 10-2 oilfield in Bohai Bay. The Kenli 10-2 oilfield is located in Laizhou Bay Sag in Southern Bohai Bay, with an average water depth of about 50 feet.
  • In January 2022, Sinopec discovered a new oil and gas area with approximately 100 million tonnes of reserves in the Tarim Basin of northwest China's Xinjiang Uygur Autonomous Region. These latest reserves in Sinopec's Shunbei oil and gas field are estimated to provide 88 million metric ton of condensate oil and 290 billion cubic meters of natural gas.

China Oil and Gas Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Oil and Gas Reserves in the China, till 2020
  • 4.3 Crude Oil Production and Consumption Forecast in thousand barrels per day, till 2027
  • 4.4 Natural Gas Production and Consumption Forecast in billion cubic feet per day, till 2027
  • 4.5 Recent Trends and Developments
  • 4.6 Government Policies and Regulations
  • 4.7 Market Dynamics
    • 4.7.1 Drivers
    • 4.7.2 Restraints
  • 4.8 Supply Chain Analysis
  • 4.9 PESTLE Analysis

5. MARKET SEGMENTATION - BY SECTOR

  • 5.1 Upstream
  • 5.2 Midstream
  • 5.3 Downstream

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 China National Petroleum Corporation
    • 6.3.2 China Petroleum & Chemical Corporation (Sinopec)
    • 6.3.3 China National Offshore Oil Corporation (CNOOC)
    • 6.3.4 ExxonMobil Corporation
    • 6.3.5 Chevron Corporation
    • 6.3.6 BP PLC
    • 6.3.7 Shell PLC
    • 6.3.8 Yanchang Petroleum International Limited
    • 6.3.9 Shaanxi Yanchang Petroleum Group
    • 6.3.10 Sinochem Corporation
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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China Oil and Gas Industry Segmentation

The Chinese oil and gas market report includes:

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China Oil and Gas Market Research FAQs

What is the current China Oil and Gas Market size?

The China Oil and Gas Market is projected to register a CAGR of greater than 2% during the forecast period (2025-2030)

Who are the key players in China Oil and Gas Market?

China Petroleum & Chemical Corporation (Sinopec), China National Offshore Oil Corporation (CNOOC), Exxon Mobil Corporation, China National Petroleum Corporation and Chevron Corporation are the major companies operating in the China Oil and Gas Market.

What years does this China Oil and Gas Market cover?

The report covers the China Oil and Gas Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the China Oil and Gas Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

China Oil and Gas Industry Report

Statistics for the 2025 China Oil and Gas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Oil and Gas analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.