Chinese School - Domestic oil, gas supplies grow steadily

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Domestic oil, gas supplies grow steadily

www.chinanews.cn 2006-01-31 13:15:10

(Source: Xinhua)

BEIJING, Jan. 31 - China has experienced a stable growth in its domestic
oil and gas supplies over the last five years, according to the National
Development and Reform Commission(NDRC).
Statistics show that China's crude oil output increased from 165 million
tons in 2000 to 183 million tons in 2005, and the output of natural gas
rose from 27 billion cubic meters to 47.5 billion cubic meters.
New breakthroughs in oil and gas exploration were made in the past five
years as the traditional oil fields in East China, such as Daqing,
maintained a steady growth.
Oil fields capable of producing high yields were discovered in west China
including Xinjiang Uygur Autonomous Region, Ningxia HuiAutonomous Region,
and Qinghai, Gansu and Shaanxi provinces, and in offshore China's Bohai
Bay.
Between 2000 and 2005, six large-scale natural gas zones were discovered
in the Tarim, Ordos, Sichuan and Qaidam basins, in the South China Sea
and in the East China Sea.
Petroleum and natural gas began to play bigger roles in China's energy
consumption structure.
In 2000, 16.6 percent of China's energy demand was met by petroleum, in
2005 it was 22.7 percent. Consumption of natural gasrose from 2.1 percent
in 2000 to 2.6 percent in 2005.
China strengthened infrastructure during this period to support the
soaring oil and gas demand of the country.
The great pipeline carrying natural gas from China's energy-rich West to
the energy-thirsty East was completed at the end of 2004.
By the end of the following year, China had built up a basic pipeline
network for natural gas stretching 24,000 kilometers, with 20,000
kilometers for oil products.
Between 2000 and 2005, China amended relevant regulations for closer
cooperation with foreign partners.
By the end of 2005, China had signed a total of more than 200 contracts
with foreign petroleum partners, attracting foreign capital of over 9.3
billion U.S. dollars and boasting contracted acreage of over 1.05 million
square kilometers.

          ��
Chinese govt may ease curbs on oil price

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