CNPC Says Global Rivalry to Affect China Oil Imports

(Bloomberg) — Rising global competition and volatile energy prices will affect Chinese oil imports, making it more difficult to guarantee domestic fuel supplies, China National Petroleum Corp. said.

Chinese companies should avoid competing with their domestic peers in the international market and instead form an alliance against foreign producers, the parent of PetroChina Co., the country

Imports accounted for 52 percent of the oil consumed by China last year, China Business News said yesterday, citing Zhang Xiaoqiang, deputy head of the National Development and Reform Commission. Manufacturing expanded by the most in five years last month, increasing the nation