Oil, known as the "blood of industry", is the largest commodity in foreign trade transactions in the world today. With the development of China's economy, our country has now become the world's largest oil consumer and importer, and its oil import volume ranks first in the world. In 2018, China's net oil imports were 460 million tons, a year-on-year increase of 10.9%, equivalent to 9.46 million barrels per day. Russia is China's largest oil source. China's oil has shown a trend of relying heavily on imports. With the development of the economy and the rapid increase in oil consumption, China's dependence on foreign oil will only become more and more heavy. The safety of oil import channels has increasingly become an important strategic goal of the country. We usually say that China has a vast land and rich resources, and its various resource reserves rank among the best in the world. However, in terms of oil, China has really not been favored by God. At present, China's oil is facing problems such as small reserves, difficult extraction, and high extraction costs.

China’s oil reserves are approximately 15 billion barrels, but the cost of extraction is the highest among the world’s major oil-producing countries. At present, my country's proven crude oil reserves are about 24.65 billion tons, ranking 14th in the world. Although they are not comparable to Venezuela, Saudi Arabia, Canada and other countries, from a global perspective, my country's oil reserves are still relatively large. . Moreover, the proven 24.65 billion tons is not my country’s final oil reserves, because with the continuous advancement of my country’s exploration work and the continuous development of exploration technology, my country’s proven oil reserves are growing every year.

For example, in 2018, the country’s new proven geological reserves of oil were approximately 912 million tons, and that of natural gas was approximately 699.9 billion cubic meters. These proven oil reserves and natural gas reserves mainly come from Xinjiang, Jilin, Shanxi, and Shaanxi , Gansu, Sichuan and other regions. Among them, 5 large oil and gas fields with proven reserves exceeding 100 million tons of oil equivalent were newly added. At present, China's oil is mainly distributed in eight regions: Bohai Bay, Songliao Plain, Tarim Basin, Ordos, Junggar Basin, Qaidam Basin, Pearl River Estuary, and East China Sea. China's oil reserves are small, but the cost of extraction is increasing. As oil resources gradually deplete, it is becoming more and more difficult to explore for new oil, and the cost of extraction is getting higher and higher. During the same period, the cost of extraction is seven times that of the Gulf countries.

Despite this, our country still needs to import a large amount of crude oil every year. At present, our country is the country with the largest crude oil import volume in the world. In 2018, our country’s oil import volume reached about 462 million tons. Consumption reached 620 million tons, which means that my country's crude oil import dependence reached 74.5%. In recent years, the reason why our country has imported a large amount of oil is because our country's oil consumption is very large. As the world's second largest economy and the world's largest industrial producer, our country has a large domestic demand for automobiles, so The annual oil consumption is very huge. Our country's own oil extraction alone cannot meet the domestic oil growth demand. In addition, the cost of oil extraction in our country is much higher than the cost of oil extraction in the Middle East. Therefore, many oil companies start from the Middle East, Russia, the United States and other places to import oil. ?

However, compared with traditional oil, the current cost of mining and refining shale oil is relatively high, and the potential environmental pollution is also relatively large. Therefore, there is currently no large-scale mining of shale oil in our country. Small-scale mining is carried out in local areas.

For example, in my country’s 1 billion-ton shale oil reservoir? Jimsar shale oil area, PetroChina Xinjiang Oilfield Company has fully promoted development and has deployed 36 drilling rigs, drilled 47 wells, and completed wells. 8 ports, with a daily footage of more than 2,000 meters, and a cumulative footage of more than 160,000 meters. According to the development plan, the crude oil output of the Jimusar shale oil area will reach 1 million tons in 2021, reach 2 million tons in 2025, and maintain stable production for 9 years.

However, with the continuous improvement of shale oil extraction technology, I believe that shale oil will become one of our country’s main sources of crude oil in the future. If our country’s shale oil can be exploited in large quantities like the United States, That will greatly ease our country's dependence on crude oil imports, which is of great significance to maintaining our energy security.