China Expects 5% Growth of Net Oil Import in 2010-Shanghai Metals Market

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China Expects 5% Growth of Net Oil Import in 2010

Data Analysis 08:41:17AM Mar 23, 2010 Source:SMM

BEIJING, Mar. 23 -- China's net oil imports are expected to total 210 million tons this year, National Energy Administration (NEA) said Monday.

The volume would be about 11 million tons, or 5.5 percent, higher that last year, said Huang Li, vice director of Energy Saving and Science Equipment Department, NEA.

According to online data provided by the China Petroleum and Chemical Industry Association, the country imported about 203.8 million tons of oil in 2009, while exports totaled about 5.16 million tons.

"Total consumption of oil this year would remain above 400 million tons, and refinery industry will recover as a result of the increase in auto demand and recovery of logistics and transportation industries," she said.

Coal production this year would reach 3.15 billion tons, and annual net coal imports would be around 100 million tons, as the country would increase power generation capacity by around 75 million kilowatts from 3.7 trillion kilowatts last year, she said.
 

China Expects 5% Growth of Net Oil Import in 2010

Data Analysis 08:41:17AM Mar 23, 2010 Source:SMM

BEIJING, Mar. 23 -- China's net oil imports are expected to total 210 million tons this year, National Energy Administration (NEA) said Monday.

The volume would be about 11 million tons, or 5.5 percent, higher that last year, said Huang Li, vice director of Energy Saving and Science Equipment Department, NEA.

According to online data provided by the China Petroleum and Chemical Industry Association, the country imported about 203.8 million tons of oil in 2009, while exports totaled about 5.16 million tons.

"Total consumption of oil this year would remain above 400 million tons, and refinery industry will recover as a result of the increase in auto demand and recovery of logistics and transportation industries," she said.

Coal production this year would reach 3.15 billion tons, and annual net coal imports would be around 100 million tons, as the country would increase power generation capacity by around 75 million kilowatts from 3.7 trillion kilowatts last year, she said.