BEIJING (Commodity Online): Chinese will be more dependent on crude oil imports to meet its energy needs, as per a government research. By 2015, crude oil imports are expected to account for 65% of total Chinese consumption.
In an industry conference, Luo Ping of Institute of Comprehensive Transportation said that China will import 7.4 million bpd of crude oil. China is the currently the second largest crude oil consumer in the world.
China's natural gas imports meanwhile will account for round 40% of consumption, Lou added.
The ministry of Land and Resources had earlier said that China will be able to sustain its current domestic production of around 4million bpd beyond 2030 and expects to add about 10 million tonnes of oil production by 2015.
