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China depending more on imported oil

[ 2010-01-20 14:37]     字號 [] [] []  
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China's oil imports will continue to see solid growth this year, with more than half of the country's total oil consumption coming from abroad, industry insiders said.

It is inevitable for the country - the world's second largest oil consumer - to see a robust increase of imports, as domestic production cannot keep up with rising demand, the insiders said.

China's oil dependency reached alarming levels last year with imports accounting for 52 percent of total consumption, China Business News reported this week.

Importing more than 50 percent is a globally recognized level for an energy security alert.

The country's oil imports in 2010 are expected to grow five percent from a year earlier, and the proportion of imported oil consumed may further rise to 54 percent this year. Customs figures showed that China imported 204 million tons of oil last year, while the country's total production was 190 million tons.

According to a report by the Chinese Academy of Social Sciences, 64.5 percent of China's oil consumption is likely to be met by imports in 2020, with the gap between domestic consumption and production as the main reason.

Analysts said that China should further diversify its sources for importing oil to find a more sustainable supply. At present the Middle East, Africa and the Asia-Pacific are the three main regions that supply oil for China.

Questions:

1. Why is importing more than 50 percent of oil considered a problem?

2. What percentage did China’s oil imports reach last year?

3. What regions provide most of China’s oil supplies?

Answers:

1. Importing more than 50 percent is a globally recognized level for an energy security alert.

2. Oil imports accounted for 52 percent of China’s oil.

3. The Middle East, Africa and Asia-Pacific are the three main regions that supply oil for China.

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China depending more on imported oil

About the broadcaster:

China depending more on imported oil

Renee Haines is an editor and broadcaster at China Daily. Renee has more than 15 years of experience as a newspaper editor, radio station anchor and news director, news-wire service reporter and bureau chief, magazine writer, book editor and website consultant. She came to China from the United States.

 
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