China 2010 crude oil imports likely 212 million tons

China is forecast to further increase crude oil imports this year, as expected higher oil consumption alongside accelerated economic recovery and expanding refining capacity, will likely push up crude runs. The nation is expected to import 212 million metric tons of crude oil this year, up 9.1% from last year, the Research Institute of Economics and Technology under the nation’s top energy company, China National Petroleum Corp. (CNPC), said. Meanwhile, domestic crude oil output is forecast to rise 2%, to 193 million tons, or 3.88 million barrels a day. The estimated import level, equivalent to around 4.26 million barrels a day, marks a 4% year-on-year rise, (February 4, 2010)