China Diversifies Energy Mix Amid Peak Demand and Foreign Investment Push

China is taking steps to manage peak oil demand while expanding its deep drilling and pipeline network. The country's focus on domestic energy production comes as global oil prices continue to fluctuate.

The Shengli Oilfield in east China's Shandong Province has seen increased activity, with aerial drone photos taken on June 4, 2024, showing the offshore field.

Libya needs between $30bn and $40bn in investment to develop its oil and gas resources. China's efforts may be influenced by this need for foreign capital.