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Net Imports of Crude Oil Up 17.6% in First Half Year
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China imported 70.33 million tons of crude oil in the first six months of the year, up 17.6 percent year on year, according to data of the General Administration of Customs.

 

Meanwhile, China's crude oil output hit 91.66 million tons from January to June, said China Petroleum and Chemical Industry Association. This means China imported 43 percent of its required crude oil over the six-month period.

 

The Customs said China mainly imported crude oil from Angola, Saudi Arabia, Iran, Russia, Oman, Equatorial Guinea, Yemen, Congo, Libya and Venezuela.

 

Between January and June, China imported 13.36 million tons of crude oil from Angola, or 18.2 percent of the total crude oil imports.

 

The country has been trying to reduce its reliance on imported oil, which for years have accounted for more than 40 percent of the total consumed.

 

Last year, China's oil consumption was 317 million tons, down slightly from the previous year, while its net import of petroleum was 136 million tons, registering a decline from 2004.

 

(Xinhua News Agency September 21, 2006)

 

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