China’s oil demand to grow steadily in the 13th Five-Year Plan, 2020 plan projects

Almaty. January 20. Silkroadnews –  According to petroleum industry development plan in the 13th Five-Year Plan (2016-2020), the domestic demand for oil will continue to grow steadily, though the rate of growth to slow down, the newspaper “People’s Daily” writes.

In 2015 China’s domestic crude consumption amounted to 547 million tonnes, which is 18% of total domestic energy consumption. In the 12th Five-Year Plan (2011-2015) oil consumption grew steadily, with average annual growth rate making 4.8%.

According to the plan, in 2020 domestic production of crude oil in China is expected to exceed 200 million tonnes and there will be an open, diversified and safe oil supply system built. In the 13th five-year plan the average annual growth of proven geological oil reserves will reach about 1 billion tonnes. By 2020 it is also planned to build 32 thousand km of pipelines for crude oil with a capacity of about 650 million tonnes per year and 33 thousand km of pipelines for oil products with a capacity of 300 million tonnes per year.