China looks to raise its crude oil production by 1 percent to 3.85 million barrels per day (bpd) and natural gas output by 4.3 percent this year, the National Energy Administration’s (NEA) annual production plan showed, as carried by Reuters . In order to increase its domestic oil and gas production, as imports of both commodities account for most of its supply, China will boost efforts to develop oil- and gas-rich areas in the Bohai Bay offshore northern China in the Sichuan province, Erdos Basin, and far western region of Xinjiang. China will also aim to have some 900 gigawatts (GW) of installed non-fossil fuel power generation capacity in 2020, up from 820 GW at the end of 2019, and reduce the share of coal in its primary energy mix to 57.5 percent from 57.7 percent last year, according to the plan. Last year, China’s crude oil production rose […]