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Policy & Regulation

China opens up energy market to spur greater production

China’s announcement that it will open up exploration and production to foreign players should boost production from its upstream sector, but only in the longer term China’s announcement that it will open up exploration and production to foreign players should boost production from its upstream sector, but only in the longer term.
By Colin Shek 13 January 2020 Asia Pacific / Exploration & Production 0 34924
PetroChina drilling pads. (PetroChina)

China’s announcement last week that it will open up domestic oil and gas exploration and production  to all companies – including foreign players – will increase market participation and competition in the upstream segment. Although the impact will probably be limited in the short term, the move is designed to boost production in the longer term in line with the government’s aim to improve China’s energy security.

The Ministry of Natural Resources (MNR) said last Thursday that companies registered in China with net...