Oil im­ports in­crease to meet en­ergy de­mands

China Daily (Canada) - - NEWSCAPSULE -

China is in­creas­ing its re­liance on oil im­ports de­spite the na­tion’s ef­fort to con­trol fos­sil-fuel con­sump­tion, ac­cord­ing to a re­port from the US En­ergy In­for­ma­tion Ad­min­is­tra­tion (EIA).

The in­de­pen­dent sta­tis­ti­cal agency within the Depart­ment of En­ergy said it ex­pects China to im­port more than 66 per­cent of its to­tal oil by 2012 and 72 per­cent by 2040 “as de­mand is ex­pected to grow faster than do­mes­tic crude sup­ply”.

The State Coun­cil’s 12th FiveYear Plan for en­ergy de­vel­op­ment, pub­lished early last year, in­cluded a mea­sure to cap oil im­ports at 61 per­cent by the end of 2015. The aim was to limit de­pen­dence on fos­sil fu­els while de­vel­op­ing cleaner burn­ing fu­els to pro­tect the en­vi­ron­ment af­ter more than three decades of rapid eco­nomic growth. The 61 per­cent cap was an in­crease from 2012, when China im­ported 57 per­cent of its crude-oil needs.

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