Because of the financial crisis intensifies，the world’s economic growth is slowing down，and the operating environment of China’s oil and gas industry have changed dramatically. In this context，the running posture of China’s oil and gas industry got some new changes：the supply grew steadily，and the demand slowed down but would still bullish long-term. At the same time，the sharp fall in world’s oil prices provided a good opportunity to speed up the strategic petroleum reserve in China and promoted the fuel tax reform. To promote sustained and rapid development，we must improve the investment entity with diversified sources of funding system，introduce private capital to actively participate in the operation，and encourage oil and gas companies to accelerate the pace of overseas investments.