Development and Prospects for China’s Oil and Natural Gas
China is now the world’s second largest consumer of petroleum and will soon surpass Japan as the second largest importer of crude oil and petroleum products. Oil consumption in 2004 is estimated to have been 320 mmt, which represents a daily consumption of 6.4 million barrels. In 2005, it was estimated that China consumed about the same amount of oil as in the previous year. China’s total consumption of oil and LPG in 2004 and 2005 was supplied from the sources shown in Table 7.1. FORECASTING CHINA’S INDIGENOUS CRUDE OIL OUTPUT The statistics available for the study of the Chinese energy sector are in many respects still quite opaque. There are, for example, at least four oﬃcial Table 7.1 China’s oil balance in 2004 and in 2005 (mmt) 2004 Domestic crude oil production Imports of crude oil Exports of crude oil Net imports of crude oil* Imports of petroleum products* Exports of petroleum products Net imports of petroleum products* Total oil supply Imports of LPG Domestic LPG supply Total LPG supply 174.72 122.81 5.49 117.32 37.86 11.45 26.41 318.45 6.38 12.39 18.77 2005 180.86 129.08 8.06 121.02 31.46 14.00 17.46 319.34 6.14 12.48 18.62 Note: * No allowance has been made in these data for illegal imports of crude oil, petroleum products or LPG although these are known to be signiﬁcant, especially in southern China. Source: China Oil, Gas and Petrochemicals, various issues. 107 108 China and the global energy crisis series for crude oil output that appear in...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.