China Energy Industry

Oil-hunting China aims to curb appetite

Associated Press
January 20, 2002

‘While striving to secure foreign oil and gas to fuel sizzling economic growth of more than 9 percent a year, [China] is struggling to limit soaring reliance on outside supplies by increasing nuclear and hydroelectric power.’

(Excerpt)

Beijing: Just days before a Chinese firm announced a $2.3 billion investment in a Nigerian oil field last month, President Hu Jintao warned that China has to rein in surging energy use that has made it one of the world’s biggest oil importers. The announcements underlined the dual tracks of Beijing’s energy policy. While striving to secure foreign oil and gas to fuel sizzling economic growth of more than 9 percent a year, it is struggling to limit soaring reliance on outside supplies by increasing nuclear and hydroelectric power.

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