China＇s Oil ＆ Gas Imports and Exports in 2011

Average oil price in international market exceeded 110 US dollars and hit historic high in 2011, but China＇s crude oil imports still rose to 273.78 million tons. Net imports of crude oil, refined oil, liquefied petroleum gas （LPG） and other oil products created another historic high. Oil dependency, i.e. the proportion of net oil imports to domestic consumption went on rising and rose to about 59.8% in 2011. Net imports of refined oil rose by 46% remarkably, indicating that the growth of processing capacity of domestic refineries lagged behind consumption of oil products.