China 2007 Crude Oil Output Seen at 186M Tons

   Date:2007/12/20     Source:

China's crude oil output is expected to reach 186 mln tons in 2007, up 1.5 pct, the official Xinhua news agency reported, citing an industry association.

Meng Quansheng, vice chairman of the China Petroleum and Chemical Industry Association (CPCIA), was quoted as saying that output will hit 189 mln tons in 2008, with 47 pct of oil consumption satisfied by imports.

In the first 11 months, China's crude oil output was 171 mln tons, up 1.6 pct. Imported oil accounted for 147 mln tons, up 14.8 pct.

Meng also forecast natural gas output to rise 14.4 pct year-on-year to 58.55 bln cubic meters in 2007. In 2008 output is forecast at 76 bln cu m.

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