A recent resource survey shows that China has abundant oil reserves, said Wang Tao, chairman of China National Committee of the World Petroleum Council on the China Oil and Gas forum on Saturday, Xinhua reported (in Chinese). The assessment showed China has over 65 billion metric tons of potential oil resources and the potential natural gas reserves could be as large as 25 trillion cubic meters. The problem, said Wang, is that only 40% of oil and 24.6% of gas have been uncovered, though further exploration could lead to oil and gas discoveries that would help meet the country's surging energy demands.
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