Subscribe free to our newsletters via your
  Energy News  

Subscribe free to our newsletters via your

China's crude oil imports hit new record in 2007: customs

by Staff Writers
Beijing (AFP) Jan 11, 2008
China's crude oil imports hit a new record of 163.17 million tonnes in 2007, up 12.4 percent over the previous year, the government said Friday.

Meanwhile, crude exports dropped by 38.7 percent to 3.89 million tonnes, the General Administration of Customs said, as the country strove to meet fast-rising energy demand accompanying double-digit economic growth.

China spent 79.77 billion dollars on importing oil in 2007, 20.1 percent more than a year earlier, as international oil prices surged throughout the year.

China also imported 33.8 million tonnes of oil products, down by 7.1 percent on the year, the administration said.

China has been a net importer of oil since 1993 and imported 138.8 million tonnes of crude in 2006, up 16.9 percent from the previous year.

Imports in 2006 accounted for 47 percent of the country's overall consumption, and industry observers have warned imports might make up more than 50 percent of the country's petroleum needs in a year or two.

Chinese demand has been identified as at least partly responsible for currently high oil prices, which topped 100 dollars per barrel last week and is now hovering at around 94 dollars per barrel.

Email This Article
Comment On This Article

Related Links
Powering The World in the 21st Century at

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Analysis: Celtic Tiger roars in Ashgabat
Washington (UPI) Jan 11, 2008
For Western companies interested in exploiting the Caspian's last frontier, 2007 opened with great promise. Turkmen President Saparmurat Niyazov died Dec. 21, 2006, and the country's new president, Gurbanguly Berdymukhammedov, seemed to presage new possibilities for ending the country's isolationist, neutralist policies. Foreign leaders and oil company executives from around the world flooded into Ashgabat in an attempt to secure a slice of the country's vast hydrocarbon riches, particularly its natural gas reserves, estimated to be the fourth-largest in the world.

  • Analysis: Celtic Tiger roars in Ashgabat
  • Key Factors On Energy Front Should Fast Track Sustainable Energy Resolutions
  • China's crude oil imports hit new record in 2007: customs
  • General Cable Announces First Offshore Windfarm Contract Award

  • Analysis: Britain revives nuclear power
  • France forms consortium to supply nuclear power to Abu Dhabi: report
  • IAEA says to inspect quake-struck Japanese nuclear plant
  • Nuclear giant Areva renews deal with Niger

  • New Model Revises Estimates Of Terrestrial Carbon Dioxide Uptake
  • A Breathable Earth
  • Researchers Find Origin Of Breathable Atmosphere Half A Billion Years Ago
  • Study Reveals Lakes A Major Source Of Prehistoric Methane

  • PM pledges one billion dollars for struggling mining, forestry towns
  • No Convincing Evidence For Decline In Tropical Forests
  • Carbon Sink Capacity In Northern Forests Reduced By Global Warming
  • Indonesia: President urges better forest management amid floods

  • Micro-Grant Makes Business Boom For Iraqi Butcher
  • Meat, milk from cloned animals appear safe for humans: EU agency
  • Greenhouse Ocean May Downsize Fish
  • Overgrazing Accelerating Soil Erosion In Northern Mexico

  • GM vehicle designed in China to debut at Detroit auto show
  • Launch of world's cheapest car opens road to huge new market
  • Khosla Ventures Invests In EcoMotors To Deliver Efficient Diesel Engines
  • Hybrids to account for 10 percent of Honda sales: chief

  • Purdue Wind Tunnel Key For Hypersonic Vehicles And Future Space Planes
  • Antarctic ballooning hits milestone
  • Chinese major aircraft makers to build big planes: report
  • Dutch cops to ditch helicopters for airships in green bid: agency

  • Nuclear Power In Space - Part 2
  • Outside View: Nuclear future in space
  • Nuclear Power In Space

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement