Article Review: Fuel Oil Demand in China

With significant appends in oil beseech and imports triggered by active frugal harvest-feast, China has grown to become an important pseudo affecting the international oil market. This rapid economic growth together by facing serious power proviso short circuitages, China is estimated to lead the market from a15 to 18 percent increase of fuel oils this year. This study analyzes recent trends in and conditions of the tally and demand situation and the Gross Domestic Product (GDP) in China.

After the one-fifth National Oil Commerce and Trade Conference held deep in China, the judicature has taken measures to control the overheated rescue growth that cannot be slowed down in a short period of time. Currently, the GDP growth was as high as 9.7 percent, which it was much higher than the expectations of 7 percent. It is indicated that the seasonal supply famine has changed into a yearly supply shortage and the local supply shortage has changed into a nationwide supply shortage. The Chinese government has actively developed and implemented policies for securing stable supplies of oil, such as reinforcing relationships with major oil producers in the Middle Eastern countries and Russia and attempt to establish strategic oil stockpile systems.



In addition, Chinese oil companies are working aggressively on advancements into oversea upstream sectors, investments in the upgrading and expansion of refinery facilities, improvements of port facilities, and to boost adoption capabilities for increased crude oil imports. (Institute of Energy - Japan, http://eneken.ieej.or.jp)

Energy return and Demand

The primary energy consumption in China proceed to decline, from 913 million tons of oil in 1996 to 787 million in 1999, due to a declining consumption of its primary source of home(prenominal) coal. Consumption of primary energy as a complete is expected to increase steadily in concurrence with economic development of the country. The...

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