China
        

From Chinese Media

Overseas oil dependence ratio surpasses 55%

Updated: 2011-01-24 13:41

By Zhao Tingting (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

China reported a record surge of crude oil imports in 2010, buying more than 200 million tons of overseas crude. The country's overseas crude dependence ratio surpassed 55 percent, the Economic Information reported Monday, citing an industry report.

Related readings:
Overseas oil dependence ratio surpasses 55% Sinopec refines 13% more crude oil in 2010
Overseas oil dependence ratio surpasses 55% PetroChina's oil, gas output tops 200m tons in 2010
Overseas oil dependence ratio surpasses 55% Oil imports drop in pipeline

The report was issued by the China National Petroleum Corp (CNPC) Research Institute of Economics and Technology. It said that China's strong economic performance drove soaring oil demand in 2010. The nation consumed about 455 million tons of oil last year, up 11.4 percent, or 47 million tons, from the previous year.

Oil demand growth is expected to decline this year, the report said. The nation is estimated to need 483 million tons of oil in 2011, up 6.2 percent from 2010.

Specials

President Hu visits the US

President Hu Jintao is on a state visit to the US from Jan 18 to 21.

Ancient life

The discovery of the fossile of a female pterosaur nicknamed as Mrs T and her un-laid egg are shedding new light on ancient mysteries.

Economic Figures

China's GDP growth jumped 10.3 percent year-on-year in 2010, boosted by a faster-than-expected 9.8 percent expansion in the fourth quarter.

2011 postgraduate entrance exam
Pet businesses
Critics call for fraud case to be reopened