China to Rely Heavily on Foreign Oil, Gas by 2020

China is expected to rely on foreign sources for about 50% its crude oil and natural gas needs by 2020 to bridge the growing gap between domestic demand and domestic production, state-operated Xinhua News Agency reported late Tuesday, citing an industry expert.

By 2020, China is expected to be consuming 450 million metric tons of crude and 200 billion cubic meters of natural gas a year, with half that demand met by imports, Wang Gongli, president of China Oil and Natural Gas Designing Institute told Xinhua.
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