Chinese ministry cites crude import needs

Aug 3  China’s demand for crude oil will outstrip domestic supply by some 130 million tonnes in 2005. China’s Ministry of Commerce predicted that the country’s crude oil output would increase by 3% this year to 180 million tonnes but that demand would rise by 6% to 310 million tonnes. Imports will have to fill demand not met by domestic production. The ministry said demand for refined oil will rise by 5% to more than 230 million tonnes. Within that total, the demand for gasoline will increase by 4% to more than 54 million tonnes, while diesel oil will rise 6.5% to 110 million tonnes, and fuel oil will increase by 5% to 54 million tonnes.

http://ogj.pennnet.com/articles/article_display.cfm?Section=ONART&C=GenIn&ARTICLE_ID=233753&p=7″>O&GJ