Economic Trend News
- CPCIA: China's crude oil output to reach 186 million tons in 2007
Date: 20-Dec-2007 Sources: (Xinhua Online)
BEIJING, Dec. 19 (Xinhua) -- China Petroleum and Chemical Industry Association (CPCIA) forecast on Wednesday that the country's crude oil output would reach 186 million tons in 2007, up 1.5 percent year-on-year.
Meng Quansheng, vice chairman of the CPCIA, made the remarks at an industry forum in Beijing.
He said the figure would reach 189 million tons in 2008, and 47percent of the total oil consumption would rely on imports.
The latest statistics showed that in the first 11 months, China's crude oil output stood at 171 million tons, up 1.6 percent over the same period last year. Imported oil stood at 147 million tons, up 14.8 percent.
The CPCIA also forecasted that natural gas output would rise 14.4 percent to reach 58.55 billion cubic meters in 2007, and 76 billion cubic meters the following year.
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