Chinese Mandarin - 40% oil supply is imported

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40% oil supply is imported

www.chinanews.cn 2005-03-30 13:54:14

(Mar. 29) Statistics of China Customs indicate that China imported 122
million tons of crude oil in 2004 to meet its 314 million ton crude oil
demand. More than 40% of crude oil supplies rely on imports. In 2005,
China's overall oil demand is expected to increase 10% to about 354
million tons. This year, China will focus on enhancing exploration and
output at domestic oilfields and work to reduce dependency on overseas
oil supplies whenever possible. However, some experts suggest that China
should also strengthen international cooperation and enhance utilization
of overseas resources in order to bolster sustainable economic
development. The photo shows a foreign oil tanker unloading at a Chinese
port.

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