India, China will increasingly rely on oil imports by 2030
19 Nov 2008, 1537 Hrs

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New Delhi/Beijing, Nov.19 India and China will increasingly rely on oil imports by 2030, according to the International Energy Agency (IEA).

According to a China Daily report, China and India are expected to account for over half of incremental energy demand by 2030, the IEA says, adding that China will account for almost 75 percent of global total oil consumption

The Paris-based adviser to 28 oil-consuming nations also predicted that primary world energy demand would grow by 1.6 percent annually between 2006 and 2030 with a total increase of 45 percent.

According to China Customs, the nation imported 159 million tons of crude oil in 2007 and produced 187 million tons, with its oil-import dependence reaching 50 percent for the first time.

China imported 135 million tons of crude oil from January to October, and it is expected to import a total of 200 million tons this year. However, its annual production would be less than 190 million tons. (ANI)