China Oil Shortage to Reach 270M MT in 2020

China’s current oil shortage will rise to 270 million metric tons in 2020, a senior official at state-owned Petrochina Co. Ltd. (PTR) said Thursday.

“China’s (natural) gas consumption shortage will reach 40 billion cubic meters in 2020,” Lian Jianjia, deputy director-general of Petrochina’s planning department, told the Asean Council of Petroleum, or Ascope.