China National Petroleum Corp. said it will make “every effort” to ensure no
domestic energy shortages as China seeks to cushion its economy from supply
shocks linked to the Iran war. Chairman Dai Houliang said the company will
prioritize supply security and respond to external disruptions, according to a
statement following a leadership meeting. The comments align with recent
guidance from China’s Politburo, which emphasized energy security during its
first economy-focused meeting since the conflict began. The ongoing war has
significantly disrupted global oil and gas flows, contributing to refinery
cutbacks and higher power prices in parts of China despite the country’s large
crude reserves and diversified energy system.
