China's diesel demand to rise 4.9% annually

China’s petroleum demand during the 2010-2015 period is forecasted to grow 4.9% annually and total 530 million metric tons by 2015, said Dai Jiaquan, vice director of the CNPC Research Institute of Economics and Technology’s market office. It is anticipated that during the 2010-2015 period, the annual industrial value added would be 15% and the level of urbanization would rise from 46 to 51.3%, boosting petroleum demand. Dai forecasts that the sale of gasoline automobiles would grow by 11% each year, ensuring a 5.1% rise in annual gasoline demand, while the annual sale of diesel automobiles would likely rise 9%, ensuring a 4.9% annual diesel demand growth. (December 10, 2009)