Latest News:  
Beijing   Cloudy/Overcast    0 / 5   City Forecast

People's Daily Online>>Opinion

Steady growth ahead for China's oil reserves

By Yu Meng (People's Daily)

13:12, November 28, 2011

Edited and translated by People's Daily Online

According to a new government report, China possesses 88.1 billion tons of oil reserves, and its recoverable oil reserves stand at 23.3 billion tons, an increase of 11.6 billion tons and 2.1 billion tons, respectively, compared to figures in a report covering the years from 2003 to 2007.

About 34 percent of the country's oil deposits have been prospected, and the steady growth in its oil reserves and output ensures abundant supplies of oil, according to the report, titled "Dynamic Evaluation of Oil and Gas Resources in China 2010," which was recently released by the country's Ministry of Land and Resources. The report said that China would be able to produce at least 200 million tons of oil a year until 2030.

Total oil reserves and recoverable reserves are up 15 percent and nearly 10 percent, respectively, but quality has declined, according to the report.

The report stated China's total oil reserves and recoverable oil reserves have increased 15 percent and nearly 10 percent, respectively, from the 2003-2007 period. However, the quality of oil resources has deteriorated, with an increasing proportion being heavy oil, or low-permeability, deep-water or deep-buried reserves.

【1】 【2】

Email|Print|Comments(Editor:韩莎莎)

Leave your comment1 comments

  1. Name

Deer at 2011-11-28116.23.137.*
wrong pronounciation on 11.6,not November
  

Selections for you


  1. Henan Province amends its family-planning policy

  2. Code blue alert renewed to warn fog in NE China

  3. Luxurious jewelry in Qing Dynasty

  4. Students learn folk culture at primary school

Most Popular

Opinions

  1. Corporate efforts better than govt ad in selling China
  2. Iceland deal hits local firms with dose of cold water
  3. Are Chinese people truly miserable?
  4. Protecting monetary sovereignty
  5. Think competitively
  6. Public anger hits the roof
  7. Zero-sum mentality should be ditched
  8. US expected to contribute to Asian economy
  9. No end in sight for economic doldrums
  10. China supports UN green industry initiative

What's happening in China

Students perform Chao opera at Guangdong

  1. Mother-to-child HIV/AIDS infection plunges
  2. First China-ASEAN Auto Expo to kick off
  3. China's industrial profits up 25 percent
  4. KFC to open in Sinopec gas stations
  5. Shanghai unveils official microblog to serve public

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival