China has one of the world's largest strategic oil reserves. 1.5% of the world's total oil reserves of 1,650,585,140,000 barrels.China has proven reserves equivalent to 5.4 times its annual consumption. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Directly accessible data for 170 industries from 50 countries These measures resulted in shrinking demand for oil and other energy commodities across the country. Thus, the oil & gas construction activities across China plummeted significantly, which hindered the offshore pipeline market in the country. Accessed February 03, 2021. https://www.statista.com/statistics/264346/chinese-oil-reserves-since-1990/, BP. Then you can access your favorite statistics via the star in the header. This is equal to 48 billion tonnes of shale oil. 2. However, there is inconsistent use of reserves terminology across Chinese publications. The figures through 2009 are taken from the Exxon report “Oeldorado 2009”. China holds 149,818 million tons (MMst) of proven coal reserves as of 2016, ranking 4th in the world and accounting for about 13% of the world's total coal reserves of 1,139,471 million tons (MMst). Figures from 2010 to 2019 are taken from previous editions of BP's statistical reviews. See also: List of countries by Oil Consumption, See also: List of countries by Oil Production, © Copyright Worldometers.info - All rights reserved -, U.S. Energy Information Administration (EIA), China produces every year an amount equivalent to. While the current size of China’s state reserves is unknown, and Beijing could use a different method for calculating net imports, oil traders and analysts estimated it could amount to China buying an additional 80 million to 100 million barrels over the course of the year. China has proven reserves equivalent to 5.4 times its annual consumption. In 2018, China had record oil and gas imports and remains the number one crude oil importer in the world after surpassing the United States in 2017 and is the number two natural gas importer, behind Japan, according to the International Energy Administration. China has found massive shale oil reserves in its northern Tianjin municipality, Chinese news agency Xinhua reported on Friday. Oil reserves in China from 1990 to 2019 (in billion metric tons) [Graph]. See also: List of countries by Oil Reserves. The proven oil shale reserves comprise about 36 billion tonnes. China holds 25,132,122,000 barrels of proven oil reserves as of 2016, ranking 14th in the world and accounting for about Iran - 155 billion barrels. You need at least a Single Account to use this feature. As with shale oil, all the major developments are driven by the onshore NOCs – PetroChina and Sinopec – and IOCs have so far struggled to make any progress. China is the biggest oil producer in the region by a substantial margin, accounting for nearly … As soon as this statistic is updated, you will immediately be notified via e-mail. Coal Reserves in China. BP. ... (oil and gas) sector UAE 2010-2018 + Please authenticate by going to "My account" → "Administration". While the current size of China’s state reserves is unknown, and Beijing could use a different method for calculating net imports, oil traders and analysts estimated it … facts. China is breaking records for crude oil imports and isn’t likely to stop soon as new refineries ramp up and hopes grow that the easing of trade … 1970s–1980s. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). This statistic shows the oil reserves in China from 1990 to 2019. For other countries see global strategic petroleum reserves If oil fetches just $50 per barrel, this equates to nearly $500 billion. and over 1 Mio. The 100% state-owned filling station company of Ghana, Ghana Oil Company (GOIL) is the number 1 petroleum and gas filling station of Ghana; and commercial quantities of offshore oil reserves in Ghana were discovered in the 1970s. Two wells at … China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter. Learn more about how Statista can support your business. Ninety days of net crude imports is about 900 million barrels, according to data compiled by Bloomberg. The biggest importers of oil in the world are the United States, China, and the European Union. Notes: 1. Please create an employee account to be able to mark statistics as favorites. A paid subscription is required for full access. Proven Oil Reserves is determined through geological and engineering processes to produce an estimated value of oil stocks in the ground. On 27 February China’s Ministry of Land and Resources stated China discovered 1.08 billion tons of proven crude oil reserves in 2013, the seventh … The United States has proven reserves equivalent to 4.9 times its annual consumption. China has proven reserves equivalent to 34.7 times its annual consumption. Statista. This article refers to the Chinese Strategic Petroleum Reserve. China virtually imposed strict lockdown and social isolation, restricting manufacturing activities. In the same year, China was the world’s fifth largest oil producer but aims to clean up the environment and reduce reliance on coal. Global strategic petroleum reserves (GSPR) refer to stockpiles of crude oil held by countries (and private industry) for national security during an energy crisis. This is a list of countries … In 2019, China's oil reserves amounted to around 3.6 billion metric tons. "Oil reserves in China from 1990 to 2019 (in billion metric tons)." China is the world's fourth-largest oil producer, supplying about 4.27 million barrels per day, … Oil reserves are the deposits of oil in the earth. New, Figures and insights about the advertising and media world, Industry Outlook Please do not hesitate to contact me. Profit from additional features by authenticating your Admin account. China holds 25,132,122,000 barrels of proven oil reserves as of 2016, ranking 14th in the world and accounting for about 1.5% of the world's total oil reserves of 1,650,585,140,000 barrels. June 17, 2020. As a Premium user you get access to the detailed source references and background information about this statistic. According to the evaluation, it has been estimated that a total Chinese oil shale resource amounts of 720 billion tonnes, located in 80 deposits of 47 oil shale basins. The U.S. Energy Information Agency estimates that the South China Sea holds about 190 trillion cubic feet of natural gas and 11 billion barrels of oil in proved and probable reserves, most of which lie along the margins of the South China Sea rather than under disputed islets and reefs. Then you will be able to mark statistics as favourites and use personal statistics alerts. Russia cements position as China’s largest oil supplier https://t.co/fK1ddXuvGQ pic.twitter.com/e9Q7BmG5YS — RT (@RT_com) November 24, 2017 See also: List of countries by Coal Reserves. A map of world oil reserves according to OPEC, January 2014. Guyana’s share of this will be approximately $300 billion; the other $200 billion will go to the Exxon-controlled consortium. New, Everything you need to know about the industry development, Find studies from all around the internet. As a Premium user you get access to background information and details about the release of this statistic. For clarity purposes, the figures have been rounded. The nation has … "Oil Reserves in China from 1990 to 2019 (in Billion Metric Tons). Currently, China has the thirteenth largest volume of proven oil reserves with 25,620 million barrels of commercially recoverable crude. Oil discoveries off the coast of Guyana are on course to produce about 1 million barrels per day of oil for 30 years. Are you interested in testing our corporate solutions? (212) 419-8286. This means that, without imports, there would be about 5 years of oil left (at current consumption levels and excluding unproven reserves). Update, Insights into the world's most important technology markets, Advertising & Media Outlook China. In, BP. China. See also: List of countries by Oil Reserves. Reserves include gas condensate and natural gas liquids (NGLs) as well as crude oil. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook China's foreign exchange reserves rose to USD 3.217 trillion in December of 2020, from USD 3.178 trillion in the previous month and above market expectations of USD 3.191 trillion. The oil … Register in seconds and access exclusive features. (June 17, 2020). The statistic shows proved natural gas reserves in China as of 2016, by geographical region. Iran is finding itself in a bit of a sticky, or rather oily, spot. All resources and OIIP (oil-initially-in-place) estimates are from Chinese NOCs. You can only download this statistic as a Premium user. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from. South China Sea Energy Exploration and Development. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. Rate of return on crude oil investments worldwide 2010-2020, Crude oil production share of leading oil-producing countries 2019. Chart. You need a Single Account for unlimited access. It was the highest level in foreign reserves since April of 2016, due to a general fall in the dollar and rises in global asset prices. This year is also supposed to mark an important milestone for China's oil reserves. The South China Sea region has proven oil reserves estimated at about 7.5 billion barrels, and oil production in the region is currently over 1.3 million barrels per day. The unprecedented crude oil price collapse on the global market is good news for China, a major oil importer, which will enable the country to build up strategic reserves at … National oil companies are a major force in the global energy sector, controlling approximately three-quarters of the Earth’s oil reserves. Total proved reserves of oil: generally taken to be those quantities that geological and engineering information indicates with reasonable certainty can be recovered in the future from known reservoirs under existing economic and operating conditions. As a result, many have found their place on the Fortune Global 500 list, a ranking of the world’s 500 largest companies by revenue. This feature is limited to our corporate solutions. Try our corporate solution for free! China’s cent… By the end of 2020, the country wants to have 85 million tons of … ", BP, Oil reserves in China from 1990 to 2019 (in billion metric tons) Statista, https://www.statista.com/statistics/264346/chinese-oil-reserves-since-1990/ (last visited February 03, 2021), World oil production - in million metric tons 1998-2019, Oil - distribution of proved reserves worldwide 2019, Global oil reserves - share of leading countries 2019, Distribution of global oil production 2010-2019, Oil production in barrels per day - top fifteen countries 2019, OPEC - share of total global crude oil production 2009-2019, Number of offshore rigs worldwide 2018 by region, 2020 global list of the top oil and gas companies based on revenue, Leading oil and gas producers based on market cap 2020, Oil refinery capacity worldwide by leading country 2010-2019, Petroleum refinery capacity of China 1970-2019, Oil - global consumption in million metric tons 1970-2019, Distribution of oil consumption worldwide by region 2017-2019, Leading oil demanding sectors in the OECD 2018, World oil consumption - consumer countries 2017-2019, Largest oil consumption worldwide by country 2019, Oil exporters worldwide by region in 2019, Leading crude oil importers worldwide 2019, Transport volume of crude oil in seaborne trade 2010-2019, West Texas Intermediate annual average oil price 1976-2020, Prices of OPEC Reference Basket oils 2002-2019, Global oil products demand outlook 2018-2040, Global oil refinery capacity by region 2017-2040, OPEC reference basket - oil price 2016-2040, Oil reserves of the United Arab Emirates 1990-2019, Refinery capacity of oil in Germany 1970-2019, Countries with largest conventional oil reserves 2018, Monthly closing inventory of crude oil & equivalent products in Canada 2015-2016, Oil consumption in Saudi Arabia 1990-2019, Western Canadian crude oil refining capacity by refinery 2018, Growth of remaining reserves of major mineral resources in China 2018, Capital and reserves of banks in Europe 2018, by country, Share of gross sea product to coastal GDP in China 2015-2019, Benefit share from the expansion of drinking water project in India 2019 by industry, Academic publication ratio per 1,000 inhabitants in the GCC region 2018, by country, Oil reserves in China from 1990 to 2019 (in billion metric tons), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. 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