China’s Oil Product Consumption Growth Rate To Slow – Report

China’s oil product consumption growth rate could slow from now until 2010, because the government plans to increase the usage of renewable energy sources and promote energy conservation measures, China Petrochemical News reported Wednesday.
The country’s oil product consumption growth rate is expected to slow to an average of around 6% annually during 2006-2010, from a sharp 19.2% rise in apparent oil product consumption in the first half of this year, the report said.
Apparent oil product consumption rose sharply in the first half of the year because the government replenished oil stocks, which had fallen sharply in the first half of 2005 due to a sharp increase in the number of new vehicles, the paper said, citing Liang Kang, a professor at Nanjing University’s International Business School.
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