Latest News:  
Beijing   Overcast/Shower    29 / 21 ℃  City Forecast

English>>China Business

Oil shale: Game changer for China?


08:18, August 21, 2012

BEIJING, Aug. 20 (Xinhua) -- Tourists flock to the Changbai Mountain Range in northeast China during summer for refreshing weather and marvelous natural landscapes. But to oil developers, its beauty lies beneath the surface, in massive oil shale reserves.

Oil shale is a sedimentary rock that contains shale oil, considered a substitute for conventional crude oil. It can be refined into gasoline, kerosene, jet fuel and diesel fuel.

With China expected to consume 500 million tonnes of oil this year, up five percent from last year, the country's search for new energy sources is intense.

In 2011, the country produced just 204 million tonnes of crude oil, up only 0.3 percent from 2010, based on data from the National Bureau of Statistics.

"We imported 240 million tonnes of crude oil from foreign countries last year, equivalent to about 57 percent of our entire demand," said Ding Shubai, chief expert with the Beijing-based Research Institute of Petroleum Exploration Development. "This number is continuing to increase."

To reduce dependence on imports, new energy alternatives such as oil shale are becoming attractive.

China has about 240 billion tonnes of accessible oil shale reserves. About 10 million tonnes of oil can be produced from these reserves using a chemical process called retorting, according to figures from China's National Energy Administration (NEA).

Liu Tienan, head of NEA, said promoting China's oil shale industry is an important task, which will increase domestic oil supplies and ease the nation's energy strain.

【1】 【2】 【3】

News we recommend:
Prices fly for Angry Birds' merchandise Wine imports give Chinese firms a hangover Spirited into the world of e-commerce
Firms should watch out for Internet threats China's firms bigger but not necessarily better China's beauty industry profits from a makeover
A ruling in Europe gives cheer to China  Online retailers declare cut-throat price war [Audio]Soccer in China Part III: The Business Side


Leave your comment0 comments

  1. Name


Selections for you

  1. F-15 fighters break sound barrier

  2. Japan stuck in neighbors' anger

  3. China's beauty industry profits from a makeover

  4. Ancient tales of filial piety

  5. Cute baby bear

  6. Sexy bikini special forces

Most Popular


  1. Commentary: Meet the new consumers
  2. Medicare row escalates with Romney's VP pick
  3. New UN envoy's appointment last ditch for Syria
  4. Stock markets remain a depressing drag
  5. ASEAN, China should maintain regional stability
  6. Be wary of West powers' attempt on Syria
  7. History proves Diaoyu Islands are China's territory
  8. Nation’s strength backs Diaoyu progress
  9. Who are tomorrow's consumers?
  10. Syrian neighbors different as crisis deepens

What's happening in China

Motorola's journey from the top

  1. Children join parents' petition for overdue wages
  2. Muslims celebrate end of Ramadan
  3. Three missing as leisure boat capsizes
  4. Mountain closed due to fire concerns
  5. Students for migrants during Qixi Festival

China Features

  1. Japan stuck in neighbors' anger
  2. Is China's low-cost era approaching its end?
  3. Chinese firms provided one-stop services in U.S.
  4. Don't store bread and biscuits together
  5. Eat ducks during Chushu (Stopping the heat)

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai