China's appetite for oil imports increases

China's appetite for oil imports increases
Beijing (UPI) Aug 15, 2011 - China's dependence on imported oil grew to 55.2 percent in the first five months of this year up from 55 percent last year, reports state-run news agency Xinhua, citing figures from China's Ministry of Industry and Information Technology. In 2009, however, China's dependence on imported oil rose to 33 percent. MIT figures indicate China's oil consumption rose 10.3 percent year o ... more