Tuesday, March 02, 2010 8:41 PM
BEIJING, Mar. 3, 2010 (Xinhua News Agency) -- China will continue to expand its na tional strategic crude oil reserves, Zhang Guobao, head of China's Nat ional Energy Administration (NEA), said during an interview with Xinhu a on Tuesday.
He said the second phase national strategic crude oil reserves i n Xinjiang and Lanzhou are under construction, and other bases will be
put into construction during 2010-2011.
"The country's rate of reliance on overseas energy supply is not
that high as the customs figures have shown," he said in response to the public concern that the country might be over-reliant on energy im ports.
According to statistics from the General Administration of Custo ms (GAC), China's crude oil imports reached 203.79 million metric tons
in 2009, compared with the apparent consumption of 388.11 million met ric tons in the same year.
Statistics also show that the country has become a net coal impo rter for the first time in 2009, while natural gas import also saw a c onsiderable growth.
The NEA head said more than 80 percent of China's energy consump tion could still be met by the country's domestic energy (OOTC:DMEC) supply even w hen the energy imports do increase in coming years. (Edited by Qiu Jun , Qiujun@xinhua.org)
(Source: iStockAnalyst )
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