From the Reading China blog:
Since early this year, the new wave of petroleum development has been driving the economic development. The momentum not only comes from the large Nanbao oilfield in Chaofeidian, Tangshan City, Hebei Province but also the Puguang oilfield in Yihan County, Dazhou City, northeast Sichuan Province.
Puguang oilfield, located northeast to Chongqing City, is a large field of natural gas in the marine strata. According to the geological classification, marine strata is caused by consolidation of marine environment. Continental strata is caused by consolidation of continental environment, such as river, lake and marshes. In the 9.6 million square kilometres national territory, the area of marine strata covers 4.5 million square kilometres.
…… In the coming 3 or more years, China will keep importing energy. The first season of this year, there is the first net import of coal with the amount as high as 3 million tons. China is the sixth biggest country of consuming oil with net import of gas products including crude oil, oil shale and natural gas for many years. Last year, the total consumption of crude oil is 320 million tons, 180 million from domestic production and 140 million from import. The ratio of dependence on foreign import is 44%, near the alert line. It is estimated that it will reach 60% in 2020. [Full Text]
