China’s 2005 Crude Demand May Rise 10%

China’s demand for crude this year is expected to rise 10% to 354 million metric tons, in line with the country’s growing demand for energy to fuel a fast-expanding economy, Xinhua News Agency reported Monday, citing a forecast by an industry official.

But it will try to rely less on crude imports and will step up local exploration activities and increase domestic output, Tan Zhuzhou, chairman of China Petroleum and Chemical Industry Association, told a conference held here Monday.

China currently imports about 40% of its crude needs. But the proportion is expected to rise as consumption increases alongside robust economic growth.