What specific commitment did China National Petroleum Corp. make regarding domestic energy supply amid the Iran war?

China National Petroleum Corp. Chairman Dai Houliang stated the company would make 'every effort' to ensure there are no domestic shortages and would respond to external shocks by placing greater emphasis on security of supply, as announced following a meeting of the firm’s leaders.

How has the Iran war affected China’s energy sector according to the news?

The Iran war—now in its third month—has caused the largest disruption to oil and gas supplies in history, leading to refinery cut-backs and higher power prices in some regions of China, despite the country’s prior efforts to buffer itself from global oil volatility.

Chinese Oil Major Vows All-Out Effort to Ensure Domestic Supply

Apr 29, 2026

China National Petroleum Corp. vowed to ensure domestic oil supply security following a Politburo meeting amid escalating Iran war tensions. The move addresses global disruptions already causing refinery cut-backs and rising power prices in some regions.

bloomberg

2026-04-29

Chinese Oil Major Vows All-Out Effort to Ensure Domestic Supply

Chinese Oil Major Vows All-Out Effort to Ensure Domestic Supply

FAQ