Jackpot for China..!? Crude oil in South china sea..!?

China has announced that crude oil has been discovered in the South china Sea. In an announcement issued on Monday, china said that 100 million tons of crude oil reserves have been discovered in the northeastern part of the South china Sea. china has said that crude oil reserves have been discovered in the Huizhou 19-6 oilfield. The crude oil reserves have been revealed to be located 170 kilometers from the Guangdong province of eastern China. china says that these are located in an area with an average depth of 100 meters. A Chinese oil exploration company has reported that it successfully extracted 413 barrels of oil and 68,000 cubic meters of natural gas per day during an inspection in this area. The South china Sea is a disputed area. Because various countries claim ownership of certain island groups in the South china Sea.
However, china is currently dominating the area. Countries including china, the Philippines, Malaysia, Vietnam, and indonesia claim ownership of the island groups and natural resources in the South china Sea. Due to the claims of various countries, no country has been able to conduct a large-scale study of the resources in the South china Sea. It is in this context that china has announced that crude oil and natural gas have been discovered in the South china Sea. It is also known that the area where these resources are found belongs to china and is not a disputed area. It has been reported that the area where the oil resources are found is within China's exclusive economic zone and is 200 nautical miles from the Chinese coast.
The Chinese government has said that this is a major discovery. china is the largest importer of crude oil in the world. china imports 11.1 million barrels of crude oil per day. Now that crude oil resources have been discovered in their own country, there is a possibility that china will soon become a dominant country in this sector.
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Sowmiya Sriram

03/04/2025 08:57 AM