Home / English Column / Business (new) / In Industry / Energy Tools: Save | Print | E-mail | Most Read
Global Oil Price Not Pushed up by Crude Oil Imports
Adjust font size:

A senior official with the Chinese Ministry of Commerce has said there are no grounds for saying China's crude oil imports push up the global oil price, reports Tuesday's Economic Daily.


The official said that in 2005, the average price of crude oil imported into China was US$51.5 per barrel, US$2.8 lower than the international benchmark.


The result proved that Chinese companies have found ways to negotiate a high oil-price period and protect their own interests, said the official.


Statistics with the ministry show that China imported 127 million crude oil in 2005, and exported 8.07 million tons.


The official said China slowed down the pace of its growing oil imports last year, with the import growth rate 31.5 percent lower than the previous year, although the total imports are up 3.3 percent.


According to the ministry, the share of China's oil imports growth in terms of the world's overall growth has dropped from 30 percent in 2004 to the current 10 percent, a consequence of increasing domestic oil output and reducing dependence on imported oil.


(Xinhua News Agency February 7, 2006)


Tools: Save | Print | E-mail | Most Read

Related Stories
China's Oil Import Growth Slows Down in 2005
China Pays 40.7% More for Crude Imports in 2005
Oil Price to Continue Its Falling Trend
Gov't to Reform Oil Pricing Mechanism
SiteMap | About Us | RSS | Newsletter | Feedback
Copyright © China.org.cn. All Rights Reserved     E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号