Xinjiang to accelerate energy output as Red Sea crisis wears on

News Snapshot:

URUMQI – Xinjiang will ramp up its energy production in 2024, as trade disruption in the Red Sea and a drive to lift its sputtering economy put pressure on China’s energy needs. The north-western autonomous region, which has rich resources in oil, natural gas, coal and minerals, plans to build large-scale oil and gas production, processing and storage bases, and tap more oil and gas fields. It will also speed up coal production while also increasing its reserves of oil and gas. These plans were set out by the region’s govenor Erkin Tuniyaz in his work report on Jan 30...