Tight energy supply shows signs of easing
(Xinhua)
Updated: 2005-10-27 13:18

With coal reserve increasing by 30 percent over January and oil reserve starting to grow by late September, the Chinese National Development and Reform Commission (NDRC) said energy shortage in the country has eased.

Ma Liqiang, NDRC deputy secretary-general, said Wednesday at a press conference that supply of coal, electric power and crude oil grows steadily at present.

Moreover, he said, refined oil reserve of China's two leading oil suppliers PetroChina and Sinopec has shifted from sustained downturn to growth. Electricity has shifted to its regional and quarterly shortage from national, yearly shortfall.

In the first three quarters of 2005, crude oil production grew 4.2 percent year on year to 135.65 million tons, and oil import grew 10.6 percent to 94.86 million tons. Meanwhile, oil consumption grew 5.6 percent, down 14.1 percentage points.

Electricity generated from January to September rose 10.2 percent year on year to 1.774 trillion kilowatt hours (kwh), whileel ectricity shortage in the summit consuming season from April to June totaled 25 million kwh, down some 10 million kwh over last summer.

Coal production grew 10.2 percent year on year to 1.034 billion tons during the first nine months. Due to increased hydro-electric power generating capacity, coal reserve across China reached 135 million tons by the end of September, and coal reserve in the thermal power plants were able to last 16 days.

Next, NDRC will closely follow fluctuations on the refined oil market, Ma said. And his commission will go on reducing oil export, and encourage oil import at an appropriate time so as to help increase oil supply in the domestic market.