A legislator Thursday called for enacting a law to protect oil resources in the wake of over-exploration of domestic oilfields and frequent tapping into oil pipelines, which caused economic losses valued at more than 100 million yuan (US$12 million) in 2004 alone.
"Oil resources have an impact on guaranteeing China's sustainable economic and social development and energy strategy," said Du Guosheng, a deputy to the National People's Congress (NPC), China's top legislature.
As the world's second largest oil consumer, China suffers an acute shortage of oil resources, and the over-exploration of domestic oilfields, mushrooming small refineries and frequent tapping of oil pipelines have posed a major threat to oil supply," said Du, assistant general manager of Sinopec Corporation, the country's largest energy and petrochemical company.
All this shows it is urgent to enact a law concerning oil prospecting, exploration, pipeline transport, storage, refining, sales and facilities protection, Du said at the ongoing NPC annual session.
(Xinhua News Agency March 11, 2005)
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