China gets most of its oil from Mideast

BEIJING, May 12 (UPI) -- Fast-growing energy consumption has driven China to the Middle East for supplies.

China has one of the fastest-growing economies, and thus its need for fuel is sky-rocketing as well. To ensure its security, China has been seeking reserves and importing much of its fuel, the Daily Star in Lebanon reported.

In recent years 40 percent to 50 percent of the oil that China consumes has been imported, and of that 60 percent comes from the Middle East, including Saudi Arabia, Iran, Qatar and Sudan.

Although China has said it's opposed to the Iraq war and to the use of force to resolve the Iranian nuclear issue, it now must consider its energy security as it constitutes an important part of China's diplomacy.

To make up for its needs and decrease its imports, China has been investing in exploration and new fields. At the end of March 2007, China announced that a new oil field with an estimated reserve of 2.2 billion barrels had been found in Bohai Bay. The daily output is expected to reach 200,000 barrels in three years. At present, the oil yielded in China satisfies about 50 percent of domestic need.