China's
oil consumption to rise 5.4- 7.0 pct in 2006
AFP
BEIJING
Petroleumworld.com 02 13 06
China's oil consumption is expected to rise by 5.4-7.0 percent
this year compared to last year, state media said Sunday, citing
a report by the National Development and Reform Commission.
The world's second biggest oil consumer after the United States
consumed 318 million tons of oil last year, according to the commission.
It did not explain the reason for the increase, but China's booming
economy is becoming increasingly dependent on oil.
Seventy-five percent of China's oil this year will be consumed
by the transportation sector, Xinhua cited the commission as saying.
It noted the increasing purchases of automobiles as one factor
behind the rise.
China is expected to import 44 percent of its oil demand this
year, according to the commission.
The country became an oil net importer in 1993 and has since been
racing to secure resources abroad to power its booming economy
as domestic production has fallen into an overall decline.
AFP
02/12/06
Copyright
© 2006 AFP. All rights reserved
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