China plans oil output rise to meet demand

Russian government official said on Tuesday, April 10, that construction of the second leg of China plans to produce 193 million tons of crude oil and 92 billion cubic meters of natural gas in 2010 as rapid economic growth boosts energy demand, said the nation’s top planning agency.

The country pledges to apply new technologies and increase investment to boost oil and gas output, according to China’s Eleventh Five-Year Plan for Energy Development (2006-2010) released by the National Development and Reform Commission on Tuesday.
The plan said China, the world’s second-biggest energy consumer, will also draw up incentives to encourage investment in oil and gas exploration and production.

It said China will step up development of renewable and nuclear energy and hydropower to encourage environmental protection. It will also ensure people who are displaced by the projects are provided adequate resettlement.

China will speed up development of its six major coal production bases and hydropower stations on the upper reaches of the Yellow River, and middle and upper reaches of the Yangtze River and several of its major tributaries, according to the plan.

China Daily