In 2022, COVID-19 is still spreading globally, with global economic growth slowing down, frequent geopolitical events and rising uncertainty.Oil and gas demand in the world has rebounded, local supply shortages and oil inventories are low.Crude oil prices are high concussion, and natural gas prices continue to hit record highs.In February, the conflict between Russia and Ukraine broke out, the United States and some Europe countries launched oil and gas sanctions against Russia.International oil prices rose sharply, and the local imbalance between oil and gas energy supply and demand appeared.The conflict between Russia and Ukraine prompted a profound adjustment of the international oil trade pattern.In the first half of 2022, China’s oil consumption continued to decline, and the growth rate of natural gas consumption slowed down.China’s oil enterprises continue to intensify the oil and gas exploration and development efforts, and the investment in oil and gas exploration and development has increased substantially, and the development workload has increased.Oil production continued to grow steadily, and natural gas production maintained growing rapidly.Crude oil imports fall slightly and natural gas imports fall sharply.It is expected that in 2022, China’s oil and gas exploration and development will continue to maintain upward tendency, and the domestic oil production is expected to exceed 200 million t, and the gas production (including shale gas and coalbed methane) will reach 214 billion m³.