"This might be caused by different calculating methods," Lin Boqiang from the China Centre for Energy Economics Research at Xiamen University told International Finance News reporter.
Lin said, "At present, there are three calculating methods for foreign oil dependency: the proportion of net imports of crude oil and petroleum products in domestic petroleum product consumption; the first method plus incremental quantity of imported crude oil in the refining process; the proportion of net crude oil imports in the total crude oil used for refining in the country. "
In this regard, the National Development and Reform Commission has not announced on the official website of any calculating information or background. But Lin said, if they use the second or third method, the figure of China's dependence on foreign oil in 2012 may be higher.
Lin said China needs to focus more on energy security. "Importing too much crude oil will make China increasingly under control of others from the strategic aspect. At the same time, considering the sources of imports, the Middle East and Africa which are suffering from geopolitical instability remain major importers of crude oil in China." Lin believes that the data deviation is not the point, what matters more is energy security.
A number of military experts and energy experts have mentioned earlier in the interview that China should have more channels for crude oil import, and needs to take full advantage of its relations with its neighbors to create more energy channel in addition to the Strait of Malacca.
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