3 Hrs
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الاقتصادية
China's energy security strategy before Hormuz crisis
The article focused on China's efforts to enhance energy security prior to the Houthi Strait crisis, highlighting how state-owned oil companies had significantly invested in domestic exploration and production since 2018 at a cost exceeding 2.3 trillion yuan ($343 billion). This investment led to an increase in China's oil production to approximately 4.3 million barrels per day. Additionally, Beijing launched an ambitious plan to accelerate domestic production to counteract its reduced imports, thereby decreasing reliance on oil and gas imports—especially during global crises—while maintaining energy supply stability despite high costs and economic pressures.
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