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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (5247)	8/2/2005 1:13:14 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China sees its 2005 oil output at 180 mln tons; total demand at 310 mln tons 08.02.2005, 08:31 AM BEIJING(AFX) - China expects to produce about 180 mln tons of crude oil this year, up 3 pct from 2004, Xinhua news agency reported, citing the Ministry of Commerce. The ministry also forecast that China's domestic demand for crude oil is to rise 6 pct year-on-year to 310 mln tons this year, leaving a supply-demand gap of about 130 mln tons. Over 43 pct of the domestic crude oil demand has to be met from imports this year, the ministry said. The figure marks an increase of two percentage points from last year. The ministry also added that the demand for refined oils will hit more than 230 mln tons this year, up 5 pct from 2004. China's petrol requirement is expected to reach 54 mln tons this year, up 4 pct from 2004, while diesel demand is seen at over 110 mln tons, up 6.5 pct, and that of heating oil at 54 mln tons, up 5 pct. juan.chen@xfn.com forbes.com