Fossil fuels sector adapts to evolving energy landscape

China's oil and gas sector is pro-actively adapting to a changing energy landscape, balancing stringent carbon emissions targets with the crucial need for energy security, according to industry experts.

As domestic petroleum demand nears its peak, the sector is actively forging a modern oil and gas industry that harmonizes energy security with a green, low-carbon transition, said Wu Mouyuan, vice-president of the Economics and Technology Research Institute under China National Petroleum Corp.

"China's oil product consumption entered a turning point in 2024, marking the end of years of steady growth," said Wu during a recently held summit in Beijing.