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China's oil output set to rise, say experts

BEIJING: Chinese energy experts say the country will be able to keep a stable growth of oil production for the next 10 to 15 years.

Zhai Guangming, an academician of the Chinese Academy of Engineering, said at a recent forum on energy strategy that from 2006 to 2010, China's annual oil output is likely to reach 185 million tonnes to 195 million tonnes.

Stable growth

China will be able to keep such a quantum of output for the next 10 to 15 years, he said. China produced 182 million tonnes of crude oil in 2005 with its dependency on overseas crude oil and oil products reaching 42.9 per cent. According to Mr. Zhai, China is expected to see a stable growth in proven oil reserves for at least 10 years.

Zhu Jianjun, a researcher with China National Petroleum Corporation (CNPC), China's largest oil producer, said while there was great potential for more discoveries of oil reserves, China was finding difficult in making new reserves owing to various factors. — Xinhua

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