06

feb   12

CHINA ESTIMATES SLOWER INCREASE IN CRUDE OIL IMPORTS IN 2012
CHINA


Beijing - Imports of crude oil into China is set to increase slowly for the second year in a row. This forecast comes from the China National Petroleum Corp (CNPC), China's most important producer that estimates a 5.98% increase in 2012 because of a slower expansion of the economy. CNPC's estimates that net crude oil imports will reach 266 million tons this year, while national production should stabilize at around 220 million tons.