China's oil products consumption to rise 7.7%

State oil giant China National Petroleum Corp. expects China’s consumption of gasoline, gasoil, kerosene and jet fuel to increase by 7.7% from a year earlier to 238 million metric tons in 2010, according to a company newsletter. A study conducted by the CNPC Economics and Technology Research Institute, the company’s research arm, said recovery of the country’s key oil-consuming sectors would stay firm in 2010 as the overall macroeconomy continues to improve, according to the report published by China Petroleum Daily. Growth in the country’s automobile production and sales is expected to remain strong, with the number of vehicles sold this year in the Chinese market to jump 23% to 16 million units, it said. (February 8, 2010)