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7 Pages

Chinese oil production: In permanent decline?


Chinese oil production: In permanent decline?

Report summary

China's domestic oil production accounts for 5% of global supply in 2016, making it the seventh largest crude producing country in the world. But that share looks set to shrink considerably over the next decade as the country faces a severe decline in oil production. China's liquids output is forecast to fall from 4.2 million b/d in 2015 to 3.5 million b/d by 2020. What is driving our forecast of falling output – is it natural field decline, capital cuts or government policy, or all of the above? In other words, is this a long-term trend that would exist even without the price drop or is it just a short-term cyclical fluctuation? Understanding this is vital to attaining a clear picture of the long-term outlook for China's output.

What's included?

This report includes 2 file(s)

  • Chinese oil production: In permanent decline? PDF - 358.39 KB 7 Pages, 0 Tables, 8 Figures
  • Chinese oil production in permanent decline.xls XLS - 708.00 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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  • Executive summary
  • China's liquids production on the decline
  • Capex cuts from the NOCs
  • Implications for the NOCs and China
  • Risks to our forecast

In this report there are 8 tables or charts, including:

  • Executive summary
  • China's liquids production on the decline
    • China's domestic liquids production by theme
    • China's domestic liquids production by operator
    • Chinese oil production: In permanent decline?: Image 3
  • Capex cuts from the NOCs
    • The three Chinese NOCs' capital spending on domestic E&P
    • China's liquids supply breakeven cost: producing assets
    • Chinese oil production: In permanent decline?: Image 6
    • China's liquids supply breakeven cost: pre-FID
    • Chinese oil production: In permanent decline?: Image 8
  • Implications for the NOCs and China
  • Risks to our forecast
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