China dependent on imports for more than half its oil

17:01, January 21, 2011      

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The National Bureau of Statistics released China's crude oil output figures on Jan. 20. The 203 million tons of output in 2010 marked a 6.9 percent year-on-year increase. Based on the oil imports data from customs, the index of China's reliance on imported oil is 54 percent.

Such an index reflects the ratio of the net oil imports against the total domestic oil consumption, which includes domestically-produced crude oil plus net imports.

In 2010, China produced 203 million tons of crude oil, imported 239 million tons and exported 3 million tons. As a result, China's crude oil imports stood at 236 million tons and oil consumption reached 439 million tons. Thus, the ratio of reliance on external sources is 54 percent.


By Li Jia, People’s Daily Online

(Editor:李佳)

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