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Demand for Oil in China Estimated to Rise 9% in Q2

Asia Pulse. China’s demand for oil is estimated to increase by 9% year-on-year in the second quarter of 2005 due to the continuing rapid growth of the economy.

Crude oil imports of approximately 10 million tonnes per month (2.4 million barrels per day) will be needed to meet the expected average demand of some 24 million tonnes per month (5.8 million barrels per day).

Demand for diesel will grow about 14%, gasoline and kerosene, 10%.

Separately, Xu Ding, China’s director of the Energy Department of the State Development and Reform Commission, said that the country plans to quadruple its energy production capacity by 2020 to support GDP growth.

He noted that China plans to build 1.1 billion tons of coal production capacity, to construct hydraulic power plants with a capacity of 150 million kilowatts by 2020, and to speed up the development of nuclear power plants.

China has launched two rounds of tender offerings for wind energy construction, with a third round to be carried out in April. China has also selected four regions to implement bio-power generation on a trial basis.

The country has also accelerated natural gas exploration and the construction of pipelines.  It has initiated a pilot liquefied natural gas (LNG) receiving terminal project in Guangdong, and it will expand similar projects in the provinces of Fujian, Zhejiang, Shanghai, Jiangsu, Shandong, Liaoning and Guangxi.


Rolf McEwen

Increased production of ethanol from corn, wheat, sugar cane, and sugar beets can provide a new source of clean fuels which contribute reduced levels of carbon dioxide and greenhouse gases. What can be done to increase the number of active ethanol conversion facilities and the availability of ethanol at fueling stations throughout the US?

Rolf McEwen
[email protected]

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