Energy

Libyan turmoil has limited impact on China's energy supplies

(Xinhua)
Updated: 2011-04-22 17:33

BEIJING - Unrest in Libya has had limited impact on China's energy supplies as domestic companies have found other sources of oil, an energy official said Friday.

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Wang Siqiang, deputy head of the general affairs department under the National Energy Administration (NEA), cited customs figures when he said that imports from Libya only accounted for 3 percent of China's total oil imports last year.

The NEA expects the country's oil consumption to hit 130 million tons in the first half of this year, up 9 percent over a year earlier. The NEA also believes that consumption for the entirety of 2011 will climb 8 percent to reach 265 million tons.

Wang noted that China will pay attention to oil price fluctuations triggered by ongoing tension in Libya.

A disruption in Libya's oil supply, which accounts for about 2 percent of the world's total, will not have a profound impact on global supplies, Wang said.