China has taken a series of measures to guarantee steady oil supply
and keep oil price stable after the United States and a number of
other countries took military actions against Iraq, the overseas
edition of
People's Daily reported.
They include more channels for oil import, accelerated oil
extraction and limit gas export, the paper quoted Yang Weicai,
deputy secretary-general of the China Petroleum and Chemical
Industry Association, as saying.
The three leading oil companies of China will import oil from
Indonesia, Sudan and Venezuela. Meanwhile, China will reopen the
oil wells sealed before for relative high production cost.
In
addition, the country will tap the capacity of surplus oil
refineries to increase gas, coal oil and diesel oil production.
China is self-sufficient for two-third of the total oil demand. It
has set up an oil reserve system and worked out a number of
policies governing oil supply.
The Chinese government is capable of reducing the influence of US
military action against Iraq on the Chinese economy to the minimum
extent, Yang said.
(Xinhua News Agency March 22, 2003)