As a result of escalation of suspending petroleum supply by Libya, the worry over the military conflicts in Syria heats up, the international crude oil average price rose up in August with a four-month-running up, and the market is worrisome about shortage of global oil supply that may happen. For this, the OPEC, EIA, and IEA expressed recently that the global crude oil supply is sufficient. Currently, though oil price stays high, there`s no needs at all to use strategic reserves.
The <<Atmospheric Pollution Preventing Action Plan>> published by the State Council recently proposes that efforts will be made to have the vehicle gasoline satisfactory to phase four standards be supplied across the country before the end of 2013; and by the end of 2014, the vehicle diesel satisfactory to phase four standards will be supplied across the country. Before the end of 2017, the vehicle gasoline and diesel satisfactory to phase five standards will be supplied across the country.
According to Torsten Indreb, Chief Secretary of International Gas Union (IGU), the demands for safe, cheap, and environmental-friendly energy by China shall increase significantly in future. And it is expected that, by year 2035, China will become the third largest natural gas producer in the world following Russia and US.
The experts from Ministry of State Land and Resources expressed recently that, if development progresses smoothly, the shale gas output of China may reach near 200 million cubic meters in 2013; however there has been not one shale gas favorable block with real large scale development been built so far. He pointed that, currently what needs to be done is to strengthen assessment and fundamental research to promoting and supporting the development of critical technology. It is suggested to open market suitably and strictly regulate and manage shale gas development.