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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: SOROS who wrote ()	3/11/2004 2:14:10 AM
From: westpacific	of 110194

China's Jan-Feb crude imports up 39.4 pct yr/yrWednesday March 10, 9:48 pm ET BEIJING, March 11 (Reuters) - Booming China, the world's second-largest oil consumer, imported 20.82 million tonnes of crude oil in the first two months of 2004, up 39.4 percent from the same period of last year, the government said on Thursday. The General Administration of Customs did not specify February oil imports alone on its Web site www.customs.gov.cn. But based on customs data that China imported 10.3 million tonnes of crude in January, crude imports in February could hit a record volume of 10.52 million tonnes, up nearly 60 percent percent from the 6.58 million tonnes in February 2003. Crude imports in the oil-thirsty country hit a record 91.1 million tonnes in 2003, 31.2 percent higher than a year earlier. The top government think-tank, the State Council Development and Research Centre, has forecast crude imports of 96 million tonnes this year. Premier Wen Jiabao, in his speech to parliament last week, vowed to tackle the energy crunch this year, boosting production of oil products and diversifying sources of oil imports.

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