China's Appetite for Oil Imports Increases
Source: UPI (8/15/11)
"China's dependence on imported oil grew to 55.2%. Its growing need for imported oil poses a threat to the country's energy security, analysts say."
China's dependence on imported oil grew to 55.2% in the first five months of this year up from 55% last year, reports state-run news agency Xinhua, citing figures from China's Ministry of Industry and Information Technology.
In 2009, however, China's dependence on imported oil rose to 33%.
MIT figures indicate China's oil consumption rose 10.3% year on year to 198 million tons in the first five months this year. During that period, oil imports rose 11.3M to 107 million tons.
China's rising appetite for imported oil poses a threat to the country's energy security, experts told Xinhua, saying the government should beef up energy management to ensure future supplies. . .View Full Article