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China Plans to Boost Oil and Gas Output

China plans to produce 193 million tons of crude oil and 92 billion cubic meters of natural gas in 2010, said the nation's top planning agency.

 

China will apply new technologies and increase investment to boost oil and gas output, according to the Eleventh Five-Year Plan for Energy Development (2006-2010) released by the National Development and Reform Commission on Tuesday.

 

The plan said China, the world's second-largest energy consumer, will also draw up incentives to encourage investment in oil and gas exploration and production.

 

It said China will step up development of recyclable and nuclear energy and hydropower on condition that the environment is protected and displaced people are resettled.

 

China will speed up development of its six major coal production bases and hydropower stations on the upper reaches of the Yellow River, and middle and upper reaches of the Yangtze River and several of its major tributaries, according to the plan.

 

The plan also said China will strive to limit its energy consumption to 2.7 billion tons of standard coal, an annual growth of 4 percent between 2006 and 2010.

 

It said China aimed to produce 2.4 billion tons of standard coal in 2010, an annual growth of 3.5 percent.

 

China will strive to cut energy consumption per 10,000 yuan (US$1,370) of gross domestic product from 1.22 tons of standard coal in 2005 to 0.98 tons in 2010, an annual decrease of 4.4 percent, said the plan.

 

Last year the country lowered its energy consumption per unit of GDP by 1.23 percent, falling short of the target of 4 percent.

 

(Xinhua News Agency April 11, 2007)


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