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China

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  • Frank C Tang
  • Fereidun Fesharaki

Abstract

For the first time since the mid‐1960s, China became a net oil importer in 1993. That the country will remain a net oil importer is inevitable and probably irreversible for the foreseeable future. In the period to 2000, its crude oil production is projected to increase only 2% annually, while demand for refined oil products is expected to grow at 6.6% per annum. As a result, China's net oil imports are expected to reach 1.3 million barrels per day in 2000, accounting for almost one‐third of its projected oil consumption. Most of the imports will come from the Middle East, and China's dependence on Middle Eastern oil is expected to increase significantly in the future.

Suggested Citation

  • Frank C Tang & Fereidun Fesharaki, 1995. "China," Natural Resources Forum, Blackwell Publishing, vol. 19(1), pages 47-58, February.
    • Handle: RePEc:wly:natres:v:19:y:1995:i:1:p:47-58
    DOI: 10.1111/j.1477-8947.1995.tb00592.x
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