CNOOC plans to increase domestic oil and gas production by 2030

LootboxPhobia · 2026-03-26T17:33:09+00:00

CNOOC executives stated at the earnings release that by 2030, domestic crude oil production is expected to increase to 65-70 million tons, and natural gas production is expected to exceed 40 billion cubic meters. The company is still formulating production plans for 2026 to 2030.

LootboxPhobia

2026-03-26 17:33:09

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Investing.com – A senior executive at CNOOC stated at Thursday’s earnings release that by 2030, the company’s domestic crude oil production could increase from the current 61 million tons to 65-70 million metric tons annually.

Senior Vice President Yan Hongtao said at the meeting that by 2030, the company’s domestic natural gas production could grow from the current 30 billion cubic meters to over 40 billion cubic meters per year.

Yan Hongtao also mentioned that CNOOC is still finalizing its production plans for 2026 to 2030.

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