Asian oil addiction growing fast

The demand for oil in Asia will nearly double over the next 25 years and will account for 85 per cent of the increased demand in 2007, a Bangkok energy conference heard.

The conference was held on Thursday in Bangkok, and sponsored by the Organisation of Petroleum Exporting Countries.

“The highest annual average rates of growth in oil demand are expected to occur in Asia during this 25 year period, with demand in China, South and Southeast Asia collectively being around two and half times the global average of 1.4 per cent,” said Mohamed Bin Dhaen Alhami, Minister of Energy of the United Arab Emirates, in his opening address to a regional seminar on energy hosted by Bangkok on Thursday and Friday.

BangkokPost