During 2013 China imported 280 million tons of oil, up 4% against the same period last year, reported Chzhen Yue, official representative of the Chinese Main Customs Department.
Despite slowing down of GDP growth, demand in the energy carries has been growing in China.
According to the Chinese Ministry of Land and Natural Resources, in 2013 China’s dependence on oil import constituted 57% and by 2020 this index could grow up to 67%.
For this reason average daily oil consumption in China could increase from 10.2 million barrels in 2013 up to 10.6 million barrels in 2014.
China is the world second oil consumer after the US. In 2013 oil import by China totaled about 5.66 million barrels a day, when US imported 7.81 million barrels a day.
During 2013 China extracted 220 million tons of oil.—0--
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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