China will increase domestic energy production by 20% by 2005 in reaction to the surge in market demand, according to Chinese media reports citing a source within the China Petroleum and Chemical Industry Association.
The revised production targets include 173 million tons of petroleum, 50 billion cubic meters of gas, 2.1 trillion kilowatt-hours of electricity and 1.9 billion tons of coal. The report's source said that China's oil imports would not be diminished by any increase in domestic production, adding that imports would constitute roughly 40% of the country's oil consumption for the next few years.
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