The East is ready for big oil imports, says BP

May 2005
Professional Engineering;5/11/2005, Vol. 18 Issue 9, p12
Trade Publication
The article reports on the escalating oil imports in Far East nations. China alone accounted for around 30% of global oil demand in 2004. With its rapidly growing economy, China will be one of four regions--with Japan, the U.S. and Europe--importing the most oil and gas. Even developing its own resources and diversifying energy supplies, China has little option but to import a lot of oil. These developments will positively impact both importation of energy and the environment. China will increasingly be at the forefront of international partnerships to develop and commercialize new technologies.


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