:: Xinhuanet – English ::: “China plans to increase its energy production by 20 percent by 2005 as the market demand keeps soaring, according to an unnamed source with the China Petroleum and Chemical Industry Association quoted in local media.
The updated target will be 173 million tons of petroleum, 50 billion cubic meters of gas, 2.1 trillion kilowatt-hours of electricity and 1.9 billion tons of coal, reported Monday’s Beijing Morning Post.
‘The increase will not cut down on China’s petroleum import,’ said the source, ‘as its demand in the domestic market will still far exceed the increased supply.’
China is expected to rely on imports for 40 percent of its petroleum consumption in the coming years, the source said. “