China, with a fifth of the world's population, consumes only 4% of the world's daily oil output. It imports about three million barrels a day. As China's economy has surged ahead at 10% a year, its own supplies of oil have begun to dry up. The only option has been to import. From zero 10 years ago, China became the world's number two oil importer in 2003.
China seeks end to power shortages
China expects its electricity shortages of recent years to come to an end in 2006. The country could even reach the point of having too much electricity, because of the large number of new power stations coming online.
China's global hunt for oil
China's craving for oil to drive its industrial boom and, to a lesser extent, satisfy its love affair with the motorcar, has helped it in 2003 to race past Japan to become the world's second biggest consumer of petroleum products after the US. In 2004, its thirst grew by 15%, while its oil output only rose 2%.
China's thirst for oil gets into top gear
China is not the biggest oil consumer in the world, that prize goes to America, nor is it the biggest importer - which is also the USA. What China outdoes the rest of the world at is the growth of its appetite. Ten years ago China imported no oil at all. In 2003, it overtook Japan to become the world's second biggest importer. Its thirst continues to grow.
Copyright 2003-2006 Azlan Adnan Legal Notice
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