China to see steady increase in crude oil output
24/5/2006 17:08
China will see a steady increase in its oil production during the 11th
five-year-plan period (2006-2010), with the output of crude oil estimated to be
between 185 and 195 million tons.
The rising momentum will continue till 2020
but China's petroleum consumption will also continue to rise as a result of
rising production demand and consumption will hover around 330 million tons and
350 million tons by the late 11th five-year-plan period, said Pan Derun, deputy
chairman of the China Petroleum and Chemical Industry Association.
According
to Pan, the country has discovered 800 million tons and 900 million tons of
newly found oil reserves annually since 1984 thanks to continuous technical
progress in prospecting.
There are now 576 oilfields across the Chinese
territory, with 11,300 km of oil pipelines being built. The country produced 182
million tons of crude oil last year.
And the nation imported 126 million tons
of crude oil and 31.43 million tons of processed oil in the past year.
Xinhua
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