The Chinese Communist Party announced on Wednesday that it had dramatically expanded the scope of the country’s known oil and gas reserves, claiming to have found 225 “large and medium-sized crude oil and natural gas fields” between 2021 and 2025.
China is the world’s largest oil importer, maintaining large demand for fuel but not enough oil deposits to address that demand domestically. While often considered not a major oil exporter due to having to meet that demand at home, China is actually the fifth-largest producer of oil. In addition to its production, China is home to a large number of what are known as “teapot” refineries, facilities…
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